AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Down 7.4% in April

AudioCodes Ltd. (NASDAQ:AUDC) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 96,200 shares, a drop 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 daily volume of 74,800 shares, the short-interest ratio is presently 1.3 days.

AudioCodes Stock Down 0.8 %

Shares of NASDAQ AUDC traded down $0.09 during midday trading on Monday, hitting $11.02. The stock had a trading volume of 17,712 shares, compared to its average volume of 74,033. The business’s 50 day moving average is $12.55 and its 200-day moving average is $11.60. AudioCodes has a 52 week low of $7.14 and a 52 week high of $14.45. The company has a market cap of $334.13 million, a P/E ratio of 39.46, a PEG ratio of 0.66 and a beta of 0.80.

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

AudioCodes Announces Dividend

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

Institutional Investors Weigh In On AudioCodes

A number of large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of AudioCodes in the third quarter worth $116,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in AudioCodes in the 3rd quarter worth $134,000. Quadrature Capital Ltd acquired a new stake in AudioCodes in the 4th quarter worth about $166,000. Cornerstone Investment Partners LLC acquired a new position in AudioCodes in the 4th quarter valued at $173,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of AudioCodes in the third quarter worth about $188,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Analysts Set New Price Targets

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

AudioCodes Company Profile

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.