Navellier & Associates Inc raised its holdings in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 3.5% during the fourth quarter, HoldingsChannel reports. The firm owned 40,087 shares of the communications equipment provider’s stock after buying an additional 1,345 shares during the period. Navellier & Associates Inc’s holdings in AudioCodes were worth $396,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of AUDC. Millennium Management LLC increased its position in shares of AudioCodes by 20.4% in the 2nd quarter. Millennium Management LLC now owns 76,055 shares of the communications equipment provider’s stock valued at $591,000 after acquiring an additional 12,890 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of AudioCodes in the 3rd quarter valued at $1,185,000. Macquarie Group Ltd. increased its position in shares of AudioCodes by 21.1% in the 2nd quarter. Macquarie Group Ltd. now owns 127,064 shares of the communications equipment provider’s stock valued at $989,000 after acquiring an additional 22,139 shares during the period. Globeflex Capital L P acquired a new position in shares of AudioCodes in the 3rd quarter valued at $800,000. Finally, Ramsey Quantitative Systems increased its position in shares of AudioCodes by 56.5% in the 3rd quarter. Ramsey Quantitative Systems now owns 67,004 shares of the communications equipment provider’s stock valued at $674,000 after acquiring an additional 24,202 shares during the period. 30.62% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ AUDC opened at $12.87 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.58 and a current ratio of 1.97. AudioCodes Ltd. has a 1 year low of $6.62 and a 1 year high of $12.96. The firm has a market capitalization of $362.80 million, a P/E ratio of 26.23 and a beta of 0.40.
Several research firms recently issued reports on AUDC. ValuEngine raised AudioCodes from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. BidaskClub raised AudioCodes from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Finally, Northland Securities set a $7.00 target price on AudioCodes and gave the company a “hold” rating in a research report on Thursday, December 20th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. AudioCodes has an average rating of “Buy” and an average price target of $9.00.
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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.
See Also: Hedge Funds
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