AudioCodes Ltd. (NASDAQ:AUDC) Short Interest Down 25.7% in March

AudioCodes Ltd. (NASDAQ:AUDCGet Rating) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 211,200 shares, a decrease of 25.7% from the March 15th total of 284,100 shares. Based on an average daily trading volume, of 124,400 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.8% of the shares of the stock are sold short.

A number of brokerages have recently issued reports on AUDC. Sidoti raised shares of AudioCodes from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Monday, January 31st. Needham & Company LLC lowered their price target on shares of AudioCodes from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, February 2nd. Zacks Investment Research upgraded shares of AudioCodes from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Barclays decreased their price objective on shares of AudioCodes from $32.00 to $28.00 and set an “underweight” rating on the stock in a research report on Monday, January 24th. Finally, StockNews.com initiated coverage on shares of AudioCodes in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AudioCodes has a consensus rating of “Buy” and an average price target of $35.00.

A number of hedge funds and other institutional investors have recently modified their holdings of AUDC. Crawford Investment Counsel Inc. boosted its stake in shares of AudioCodes by 4.8% during the third quarter. Crawford Investment Counsel Inc. now owns 164,303 shares of the communications equipment provider’s stock valued at $5,346,000 after purchasing an additional 7,525 shares during the period. Aptus Capital Advisors LLC boosted its stake in shares of AudioCodes by 23.6% during the fourth quarter. Aptus Capital Advisors LLC now owns 73,775 shares of the communications equipment provider’s stock valued at $2,563,000 after purchasing an additional 14,070 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of AudioCodes by 9.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 16,151 shares of the communications equipment provider’s stock valued at $561,000 after purchasing an additional 1,384 shares during the period. William Blair Investment Management LLC boosted its stake in shares of AudioCodes by 48,785.7% during the third quarter. William Blair Investment Management LLC now owns 713,731 shares of the communications equipment provider’s stock valued at $23,225,000 after purchasing an additional 712,271 shares during the period. Finally, Eagle Global Advisors LLC boosted its stake in shares of AudioCodes by 28.1% during the fourth quarter. Eagle Global Advisors LLC now owns 22,800 shares of the communications equipment provider’s stock valued at $792,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 51.33% of the company’s stock.

AUDC stock opened at $24.98 on Friday. AudioCodes has a 1-year low of $24.51 and a 1-year high of $37.35. The company’s 50 day moving average is $26.83 and its 200 day moving average is $31.33. The stock has a market cap of $807.10 million, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 2.30 and a beta of 0.60.

AudioCodes (NASDAQ:AUDCGet Rating) last issued its quarterly earnings results on Tuesday, February 1st. The communications equipment provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). AudioCodes had a net margin of 13.56% and a return on equity of 18.56%. The business had revenue of $66.10 million for the quarter, compared to the consensus estimate of $65.22 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. Equities analysts anticipate that AudioCodes will post 1.11 earnings per share for the current fiscal year.

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 1st. Shareholders of record on Tuesday, February 15th were given a dividend of $0.18 per share. This is a boost from AudioCodes’s previous Semi-Annual dividend of $0.17. This represents a yield of 1.2%. The ex-dividend date of this dividend was Monday, February 14th. AudioCodes’s dividend payout ratio (DPR) is presently 36.36%.

About AudioCodes (Get Rating)

AudioCodes Ltd., together with its subsidiaries, provides advanced communications software, products, and productivity solutions for the digital workplace. It offers solutions, products, and applications for enterprise unified communications environments, work-from-home agents and contact centers, voice and telephony AI-based applications, and service provider business services.

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