AudioCodes Ltd. (NASDAQ:AUDC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in AudioCodes Ltd. (NASDAQ:AUDC - Free Report) by 56.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,299 shares of the communications equipment provider's stock after selling 58,738 shares during the period. JPMorgan Chase & Co. owned 0.15% of AudioCodes worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of AudioCodes by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider's stock valued at $509,000 after acquiring an additional 1,419 shares during the period. Blue Trust Inc. lifted its holdings in AudioCodes by 151.8% in the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider's stock worth $35,000 after acquiring an additional 2,185 shares during the last quarter. DGS Capital Management LLC raised its holdings in shares of AudioCodes by 72.8% during the third quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider's stock valued at $211,000 after buying an additional 9,133 shares during the last quarter. R Squared Ltd acquired a new stake in shares of AudioCodes in the fourth quarter valued at $97,000. Finally, Value Base Ltd. purchased a new position in AudioCodes in the 4th quarter worth about $19,665,000. Hedge funds and other institutional investors own 68.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC raised their target price on AudioCodes from $11.00 to $12.50 and gave the company a "buy" rating in a report on Wednesday, February 5th. Barclays boosted their price target on shares of AudioCodes from $9.00 to $10.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded AudioCodes from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 26th.

AudioCodes Stock Down 1.9 %

NASDAQ:AUDC traded down $0.18 during trading hours on Monday, hitting $9.28. 52,623 shares of the company's stock traded hands, compared to its average volume of 86,624. AudioCodes Ltd. has a 52 week low of $7.70 and a 52 week high of $12.72. The business's fifty day simple moving average is $9.65 and its two-hundred day simple moving average is $9.80. The firm has a market cap of $275.43 million, a P/E ratio of 18.56 and a beta of 1.09.

AudioCodes (NASDAQ:AUDC - Get Free Report) last announced its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. AudioCodes had a return on equity of 10.47% and a net margin of 6.32%. On average, analysts expect that AudioCodes Ltd. will post 0.7 EPS for the current year.

AudioCodes Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were issued a $0.18 dividend. This represents a yield of 3%. The ex-dividend date of this dividend was Thursday, February 20th. AudioCodes's payout ratio is 72.00%.

AudioCodes 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.