JPMorgan Chase & Co. Has $441,000 Stock Position in AudioCodes Ltd. (NASDAQ:AUDC)

JPMorgan Chase & Co. trimmed its holdings in AudioCodes Ltd. (NASDAQ:AUDC - Free Report) by 56.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AUDC. Value Base Ltd. bought a new position in AudioCodes during the fourth quarter worth $19,665,000. Bank of New York Mellon Corp increased its holdings 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 worth $509,000 after purchasing an additional 1,419 shares during the period. DGS Capital Management LLC increased its holdings in shares of AudioCodes by 72.8% during the 3rd quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider's stock worth $211,000 after purchasing an additional 9,133 shares during the period. R Squared Ltd bought a new stake in shares of AudioCodes in the fourth quarter valued at about $97,000. Finally, Blue Trust Inc. increased its stake in AudioCodes by 151.8% during the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider's stock valued at $35,000 after acquiring an additional 2,185 shares during the period. Institutional investors own 68.05% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on AUDC shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $12.50 target price on shares of AudioCodes in a research report on Wednesday. Barclays boosted their price target on AudioCodes from $9.00 to $10.00 and gave the company an "underweight" rating in a research note on Wednesday, February 5th. Finally, StockNews.com lowered AudioCodes from a "strong-buy" rating to a "buy" rating in a research note on Wednesday.

AudioCodes Price Performance

Shares of NASDAQ:AUDC traded up $0.26 during trading on Wednesday, reaching $8.41. The stock had a trading volume of 114,271 shares, compared to its average volume of 86,704. The stock has a market capitalization of $249.64 million, a PE ratio of 16.82 and a beta of 0.94. AudioCodes Ltd. has a 52 week low of $7.70 and a 52 week high of $12.72. The business's 50-day moving average price is $9.50 and its 200 day moving average price is $9.78.

AudioCodes (NASDAQ:AUDC - Get Free Report) last issued its quarterly 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 net margin of 6.32% and a return on equity of 10.47%. Analysts forecast that AudioCodes Ltd. will post 0.7 EPS for the current year.

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.