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

Heartland Advisors Inc. boosted its position in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 15.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 965,734 shares of the communications equipment provider’s stock after buying an additional 131,934 shares during the period. Heartland Advisors Inc.’s holdings in AudioCodes were 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 business. Assenagon Asset Management S.A. purchased a new position in shares of AudioCodes in the first quarter worth about $1,238,000. Millennium Management LLC grew its stake in AudioCodes by 101.6% during the 4th quarter. Millennium Management LLC now owns 284,951 shares of the communications equipment provider’s stock valued at $2,488,000 after acquiring an additional 143,632 shares in the last quarter. Marshall Wace LLP raised its holdings in AudioCodes by 41.7% in the 4th quarter. Marshall Wace LLP now owns 186,983 shares of the communications equipment provider’s stock valued at $1,632,000 after acquiring an additional 55,055 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in AudioCodes by 9.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 620,844 shares of the communications equipment provider’s stock worth $5,936,000 after purchasing an additional 53,266 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in AudioCodes by 16.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 313,151 shares of the communications equipment provider’s stock worth $2,734,000 after purchasing an additional 44,073 shares in the last quarter. 68.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 27th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

AudioCodes Price Performance

AudioCodes stock opened at $9.75 on Friday. The firm has a 50 day simple moving average of $9.38 and a 200-day simple moving average of $8.71. The stock has a market cap of $248.14 million, a price-to-earnings ratio of 39.00 and a beta of 0.96. AudioCodes Ltd. has a 1-year low of $6.95 and a 1-year high of $11.50.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). AudioCodes had a net margin of 2.79% and a return on equity of 6.33%. The firm had revenue of $62.14 million for the quarter, compared to analysts’ expectations of $61.50 million.

About AudioCodes

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.