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

Key Points

• AudioCodes Ltd. (NASDAQ:AUDC) shares have recently crossed above their 200-day moving average, reaching a high of $10.43 before closing at $10.24.
• The stock has received a downgrade from Wall Street Zen, moving from a "buy" rating to a "hold," with an overall consensus rating of "Hold" and a target price of $11.25.
• AudioCodes recently declared a $0.25 dividend, reflecting a yield of 350.0%, with an 88.89% dividend payout ratio, indicating strong cash flow management.

Shares of AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.53 and traded as high as $10.43. AudioCodes shares last traded at $10.24, with a volume of 116,186 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of AudioCodes from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $11.25.

AudioCodes Stock Performance

The company's fifty day moving average is $9.87 and its two-hundred day moving average is $9.53. The company has a market cap of $293.68 million, a price-to-earnings ratio of 22.76 and a beta of 0.93.

AudioCodes Dividend Announcement

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

Hedge Funds Weigh In On AudioCodes

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Heartland Advisors Inc. increased its holdings in AudioCodes by 2.5% in the 1st quarter. Heartland Advisors Inc. now owns 880,250 shares of the communications equipment provider's stock worth $8,292,000 after buying an additional 21,650 shares during the period. Walleye Capital LLC grew its stake in shares of AudioCodes by 4.9% during the 1st quarter. Walleye Capital LLC now owns 241,131 shares of the communications equipment provider's stock worth $2,271,000 after purchasing an additional 11,324 shares during the period. Marshall Wace LLP grew its stake in shares of AudioCodes by 12.3% during the 2nd quarter. Marshall Wace LLP now owns 179,371 shares of the communications equipment provider's stock worth $1,761,000 after purchasing an additional 19,629 shares during the period. Trexquant Investment LP grew its stake in shares of AudioCodes by 24.5% during the 1st quarter. Trexquant Investment LP now owns 133,791 shares of the communications equipment provider's stock worth $1,260,000 after purchasing an additional 26,316 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of AudioCodes by 12.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 101,954 shares of the communications equipment provider's stock worth $947,000 after purchasing an additional 10,936 shares during the period. 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.

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