AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Update

AudioCodes Ltd. (NASDAQ:AUDC) saw a large decrease in short interest in April. As of April 15th, there was short interest totalling 96,200 shares, a decrease of 7.4% from the March 31st total of 103,900 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 74,800 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AUDC. Raymond James Financial Services Advisors Inc. bought a new stake in shares of AudioCodes during the third quarter valued at approximately $116,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in AudioCodes in the 3rd quarter valued at $134,000. Quadrature Capital Ltd acquired a new stake in shares of AudioCodes in the 4th quarter valued at $166,000. Cornerstone Investment Partners LLC bought a new stake in shares of AudioCodes during the fourth quarter worth $173,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of AudioCodes during the third quarter valued at $188,000. 68.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AUDC has been the subject of a number of recent analyst reports. StockNews.com raised AudioCodes from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Needham & Company LLC raised their target price on shares of AudioCodes from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, Barclays lifted their target price on shares of AudioCodes from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Wednesday, February 7th.

AudioCodes Stock Down 2.6 %

AudioCodes stock traded down $0.29 during trading hours on Tuesday, hitting $10.81. The stock had a trading volume of 111,731 shares, compared to its average volume of 76,091. AudioCodes has a fifty-two week low of $7.14 and a fifty-two week high of $14.45. The company has a market cap of $327.76 million, a PE ratio of 39.64, a price-to-earnings-growth ratio of 0.66 and a beta of 0.80. The company has a 50-day moving average of $12.51 and a two-hundred day moving average of $11.62.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The firm had revenue of $63.56 million during the quarter, compared to analyst estimates of $64.18 million. AudioCodes had a net margin of 3.59% and a return on equity of 7.35%. As a group, analysts forecast that AudioCodes will post 0.68 EPS for the current fiscal year.

AudioCodes Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were given a $0.18 dividend. This represents a yield of 2.6%. The ex-dividend date of this dividend was Friday, February 16th. AudioCodes’s dividend payout ratio (DPR) is 128.57%.

About AudioCodes

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.