AudioCodes (NASDAQ:AUDC) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• AudioCodes Ltd.'s share price recently crossed above its 200-day moving average of $9.49, reaching a high of $9.85 during trading.
• Equities analysts have mixed views on the stock, with ratings ranging from "buy" to "sell," and an average price target of $11.25.
• The company declared a dividend of $0.20 per share with a high yield of 350%, though its payout ratio stands at 88.89%.

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.49 and traded as high as $9.85. AudioCodes shares last traded at $9.76, with a volume of 87,671 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Zacks Research raised AudioCodes from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of AudioCodes in a report on Wednesday. Finally, Wall Street Zen cut AudioCodes from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $11.25.

AudioCodes Stock Up 1.3%

The company has a market capitalization of $279.89 million, a P/E ratio of 21.69 and a beta of 0.96. The firm has a 50-day moving average price of $9.75 and a two-hundred day moving average price of $9.49.

AudioCodes Dividend Announcement

The firm also recently declared a half year 25 dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, August 14th. This represents a yield of 350.0%. AudioCodes's payout ratio is currently 88.89%.

Institutional Investors Weigh In On AudioCodes

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in AudioCodes in the 2nd quarter valued at $43,000. Jump Financial LLC bought a new stake in AudioCodes in the 2nd quarter valued at $127,000. Cubist Systematic Strategies LLC increased its holdings in AudioCodes by 56.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider's stock valued at $185,000 after buying an additional 7,052 shares during the period. JPMorgan Chase & Co. increased its holdings in AudioCodes by 38.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider's stock valued at $386,000 after buying an additional 10,877 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in AudioCodes in the 1st quarter valued at $412,000. Institutional investors own 68.05% of the company's stock.

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.

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