AudioCodes (NASDAQ:AUDC) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• AudioCodes' share price recently exceeded its 200-day moving average of $9.82, reaching a high of $9.85 during trading. The stock last traded at $9.80 with a volume of 121,291 shares.
• The company declared a $0.20 dividend per share, set to be paid on August 28th, representing a significant yield of 350.0%.
• Institutional investors own 68.05% of AudioCodes' stock, with notable recent purchases, including Raymond James Financial and JPMorgan Chase boosting their positions.

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.82 and traded as high as $9.85. AudioCodes shares last traded at $9.80, with a volume of 121,291 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AUDC shares. Wall Street Zen downgraded AudioCodes from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Needham & Company LLC reiterated a "buy" rating and set a $12.50 price objective on shares of AudioCodes in a research report on Wednesday, May 7th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $11.25.

AudioCodes Stock Up 0.3%

The firm has a market cap of $258.17 million, a price-to-earnings ratio of 20.22 and a beta of 0.86. The company has a 50-day moving average price of $9.76 and a 200 day moving average price of $9.80.

AudioCodes Dividend Announcement

The firm also recently announced a half year 25 dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a $0.20 dividend. This represents a dividend yield of 350.0%. The ex-dividend date of this dividend is Thursday, August 14th. AudioCodes's dividend payout ratio (DPR) is 88.89%.

Institutional Trading of AudioCodes

Several hedge funds and other institutional investors have recently modified their holdings of AUDC. Raymond James Financial Inc. purchased a new stake in shares of AudioCodes during the second quarter worth $43,000. Jump Financial LLC purchased a new stake in shares of AudioCodes during the second quarter worth $127,000. Cubist Systematic Strategies LLC raised its holdings in shares of AudioCodes by 56.0% during the first quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider's stock worth $185,000 after acquiring an additional 7,052 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AudioCodes by 38.3% during the second quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider's stock worth $386,000 after acquiring an additional 10,877 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of AudioCodes during the fourth quarter worth $406,000. Institutional investors and hedge funds own 68.05% of the company's stock.

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.