AudioCodes (NASDAQ:AUDC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “AUDIOCODES LTD designs, develops and markets enabling technologies and communication components for the transmission of voice, fax and modem over packet networks. Newly developed Voice over IP gateways as well as DSL and ATM access devices, enable packet networks to carry voice and data more efficiently and at lower cost than traditional telephone networks. They are a provider of voice over packet communication components that empower the development of equipment for these emerging markets. “

Several other research analysts also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $9.00 price target (up previously from $8.50) on shares of AudioCodes in a research report on Thursday, January 25th. William Blair restated an “outperform” rating on shares of AudioCodes in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. AudioCodes presently has a consensus rating of “Buy” and an average target price of $8.17.

AudioCodes (NASDAQ:AUDC) opened at $7.25 on Thursday. AudioCodes has a 1 year low of $5.83 and a 1 year high of $8.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.34 and a current ratio of 1.71. The firm has a market cap of $228.53, a PE ratio of 60.42 and a beta of 0.23.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Wednesday, January 24th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. AudioCodes had a net margin of 2.57% and a return on equity of 9.82%. The firm had revenue of $41.40 million during the quarter, compared to the consensus estimate of $40.30 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. analysts forecast that AudioCodes will post 0.3 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. acquired a new stake in AudioCodes in the 3rd quarter valued at about $713,000. Acadian Asset Management LLC raised its holdings in AudioCodes by 34.9% in the 4th quarter. Acadian Asset Management LLC now owns 859,182 shares of the communications equipment provider’s stock valued at $6,325,000 after acquiring an additional 222,430 shares during the last quarter. First Trust Advisors LP raised its holdings in AudioCodes by 112.6% in the 3rd quarter. First Trust Advisors LP now owns 105,385 shares of the communications equipment provider’s stock valued at $752,000 after acquiring an additional 55,820 shares during the last quarter. Trexquant Investment LP acquired a new stake in AudioCodes in the 3rd quarter valued at about $123,000. Finally, Royal Bank of Canada raised its holdings in AudioCodes by 3.6% in the 2nd quarter. Royal Bank of Canada now owns 34,499 shares of the communications equipment provider’s stock valued at $207,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors own 22.77% of the company’s stock.

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AudioCodes Company Profile

AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.

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