AudioCodes (NASDAQ:AUDC) Cut to Sell at ValuEngine

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AudioCodes (NASDAQ:AUDC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday, ValuEngine reports.

Separately, BidaskClub upgraded AudioCodes from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th.

Shares of NASDAQ AUDC opened at $24.04 on Tuesday. The company has a 50 day simple moving average of $21.15 and a 200-day simple moving average of $18.13. The company has a market capitalization of $701.37 million, a P/E ratio of 32.84 and a beta of 0.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.79 and a quick ratio of 1.36. AudioCodes has a 1 year low of $9.00 and a 1 year high of $24.49.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, October 29th. The communications equipment provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $51.41 million for the quarter. AudioCodes had a return on equity of 23.08% and a net margin of 8.66%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new stake in AudioCodes in the third quarter valued at approximately $411,000. Squarepoint Ops LLC boosted its position in shares of AudioCodes by 105.1% during the third quarter. Squarepoint Ops LLC now owns 73,622 shares of the communications equipment provider’s stock worth $1,392,000 after buying an additional 37,722 shares during the period. Phoenix Holdings Ltd. acquired a new stake in shares of AudioCodes in the third quarter valued at $6,142,000. Virtu Financial LLC acquired a new stake in shares of AudioCodes in the third quarter valued at $665,000. Finally, State Street Corp raised its holdings in shares of AudioCodes by 18.1% in the 3rd quarter. State Street Corp now owns 29,300 shares of the communications equipment provider’s stock valued at $554,000 after buying an additional 4,500 shares during the period. Hedge funds and other institutional investors own 32.53% of the company’s stock.

About AudioCodes

AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, products, and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center, customer premises or the branch; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments.

Read More: Systematic Risk

To view ValuEngine’s full report, visit ValuEngine’s official website.

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