AudioCodes Ltd. (NASDAQ:AUDC) rose 5.1% during mid-day trading on Thursday . The stock traded as high as $10.98 and last traded at $10.80. Approximately 696,403 shares were traded during mid-day trading, an increase of 566% from the average daily volume of 104,573 shares. The stock had previously closed at $10.28.

AUDC has been the topic of several research reports. Zacks Investment Research cut shares of AudioCodes from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine upgraded shares of AudioCodes from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Needham & Company LLC raised their target price on shares of AudioCodes from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, BidaskClub upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 8th. Five investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $10.00.

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.63 and a current ratio of 1.99. The stock has a market capitalization of $311.22 million, a price-to-earnings ratio of 35.00 and a beta of 0.68.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Tuesday, July 24th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. AudioCodes had a net margin of 3.93% and a return on equity of 13.69%. The business had revenue of $43.50 million for the quarter, compared to the consensus estimate of $42.50 million. equities analysts expect that AudioCodes Ltd. will post 0.41 EPS for the current fiscal year.

The firm also recently declared an annual dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 6th were given a $0.20 dividend. The ex-dividend date was Friday, August 3rd. This represents a yield of 2.23%. AudioCodes’s payout ratio is presently 64.52%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in AudioCodes by 2.2% in the second quarter. Renaissance Technologies LLC now owns 211,600 shares of the communications equipment provider’s stock worth $1,646,000 after acquiring an additional 4,567 shares during the period. ClariVest Asset Management LLC raised its position in AudioCodes by 10.9% in the first quarter. ClariVest Asset Management LLC now owns 73,276 shares of the communications equipment provider’s stock worth $524,000 after acquiring an additional 7,195 shares during the period. State of New Jersey Common Pension Fund D raised its position in AudioCodes by 65.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 25,935 shares of the communications equipment provider’s stock worth $185,000 after acquiring an additional 10,271 shares during the period. Trexquant Investment LP raised its position in AudioCodes by 37.4% in the first quarter. Trexquant Investment LP now owns 38,421 shares of the communications equipment provider’s stock worth $275,000 after acquiring an additional 10,461 shares during the period. Finally, UBS Group AG raised its position in AudioCodes by 154.1% in the first quarter. UBS Group AG now owns 20,751 shares of the communications equipment provider’s stock worth $148,000 after acquiring an additional 12,585 shares during the period. Institutional investors and hedge funds own 24.33% of the company’s stock.

About AudioCodes (NASDAQ:AUDC)

AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking products and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments; MobilityPLUS, a mobile VoIP solution; VocaNOM call routing products; SmartTAP call recording products; Auto Attendant, a tool for managing inbound calls and delivery services; Fax Server, a tool for managing inbound and outbound enterprise fax transmissions; SIP Phone Support, a value-added application for SBC and gateways; signal processor chips; communications boards; and voice and data logging hardware integration board products.

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