AudioCodes Ltd. $AUDC Shares Bought by Heartland Advisors Inc.

Key Points

• Heartland Advisors increased its stake in AudioCodes by 15.8% in the first quarter, bringing its holdings to 965,734 shares valued at about $8.1 million. The fund now owns 3.57% of the company.
• Institutional interest in AudioCodes remains high, with hedge funds and other investors making new buys or significantly boosting positions. Overall, 68.05% of the stock is owned by institutional investors and hedge funds.
• AudioCodes reported quarterly earnings of $0.14 per share, missing estimates by $0.02, while revenue of $62.14 million slightly topped expectations. Separately, Wall Street Zen upgraded the stock to strong-buy, though the broader analyst consensus remains Hold.

Heartland Advisors Inc. raised its position in shares of AudioCodes Ltd. (NASDAQ:AUDC - Free Report) by 15.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 965,734 shares of the communications equipment provider's stock after purchasing an additional 131,934 shares during the quarter. Heartland Advisors Inc. owned 3.57% of AudioCodes worth $8,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of AudioCodes during the second quarter worth about $43,000. Barclays PLC increased its holdings in AudioCodes by 3,621.4% in the 4th quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider's stock worth $64,000 after buying an additional 7,098 shares during the period. Jump Financial LLC acquired a new position in AudioCodes in the 2nd quarter worth approximately $127,000. NewEdge Advisors LLC purchased a new position in AudioCodes during the 4th quarter worth approximately $150,000. Finally, SIH Partners LLLP purchased a new position in AudioCodes during the 3rd quarter worth approximately $170,000. 68.05% of the stock is owned by institutional investors and hedge funds.

AudioCodes Stock Performance

NASDAQ AUDC opened at $9.75 on Friday. The stock has a 50-day simple moving average of $9.38 and a two-hundred day simple moving average of $8.71. The firm has a market capitalization of $248.14 million, a P/E ratio of 39.00 and a beta of 0.96. AudioCodes Ltd. has a fifty-two week low of $6.95 and a fifty-two week high of $11.50.

AudioCodes (NASDAQ:AUDC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). The company had revenue of $62.14 million during the quarter, compared to analysts' expectations of $61.50 million. AudioCodes had a return on equity of 6.33% and a net margin of 2.79%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of AudioCodes from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 27th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

AudioCodes Profile

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha'Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.

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