AudioCodes (NASDAQ:AUDC) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

AudioCodes Ltd. (NASDAQ:AUDC)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.61 and traded as high as $9.82. AudioCodes shares last traded at $9.67, with a volume of 58,041 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of AudioCodes from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.25.

AudioCodes Price Performance

The firm has a market capitalization of $274.34 million, a P/E ratio of 21.49 and a beta of 0.93. The stock’s fifty day simple moving average is $9.76 and its 200 day simple moving average is $9.61.

AudioCodes Dividend Announcement

The company also recently disclosed a half year 25 dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.20 per share. This represents a dividend yield of 350.0%. The ex-dividend date was Thursday, August 14th. AudioCodes’s payout ratio is 88.89%.

Hedge Funds Weigh In On AudioCodes

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of AudioCodes during the second quarter worth $43,000. Jump Financial LLC purchased a new position in AudioCodes during the 2nd quarter worth $127,000. Cubist Systematic Strategies LLC grew its stake in AudioCodes by 56.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock worth $185,000 after buying an additional 7,052 shares during the last quarter. JPMorgan Chase & Co. increased its position in AudioCodes by 38.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider’s stock valued at $386,000 after buying an additional 10,877 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in AudioCodes in the fourth quarter valued at about $406,000. 68.05% of the stock is owned by hedge funds and other institutional investors.

AudioCodes Company Profile

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.