Taylor Frigon Capital Management LLC trimmed its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 1.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 112,406 shares of the communications equipment provider’s stock after selling 2,116 shares during the quarter. AudioCodes comprises 2.0% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. Taylor Frigon Capital Management LLC’s holdings in AudioCodes were worth $2,888,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of AudioCodes by 0.6% during the second quarter. Vanguard Group Inc. now owns 482,435 shares of the communications equipment provider’s stock worth $7,468,000 after acquiring an additional 2,762 shares during the period. Phoenix Holdings Ltd. acquired a new position in shares of AudioCodes during the third quarter worth about $6,142,000. Victory Capital Management Inc. acquired a new position in shares of AudioCodes during the second quarter worth about $2,548,000. United Services Automobile Association increased its stake in shares of AudioCodes by 14.1% during the second quarter. United Services Automobile Association now owns 108,596 shares of the communications equipment provider’s stock worth $1,681,000 after acquiring an additional 13,434 shares during the period. Finally, Squarepoint Ops LLC increased its stake 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 acquiring an additional 37,722 shares during the period. Institutional investors and hedge funds own 32.31% of the company’s stock.
Shares of AudioCodes stock traded down $0.20 on Friday, reaching $28.01. 11,152 shares of the stock were exchanged, compared to its average volume of 206,826. AudioCodes Ltd. has a 1-year low of $12.37 and a 1-year high of $28.73. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average price of $25.66 and a two-hundred day moving average price of $20.82. The firm has a market capitalization of $831.21 million, a PE ratio of 50.93 and a beta of 0.59.
A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Friday. ValuEngine lowered shares of AudioCodes from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Sidoti assumed coverage on shares of AudioCodes in a research note on Thursday, January 16th. They set a “buy” rating and a $34.00 price target on the stock.
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.
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