Heartland Advisors Inc. Has $9.96 Million Stake in AudioCodes Ltd. (NASDAQ:AUDC)

Heartland Advisors Inc. lifted its position in AudioCodes Ltd. (NASDAQ:AUDCFree Report) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 825,400 shares of the communications equipment provider’s stock after purchasing an additional 44,900 shares during the quarter. Heartland Advisors Inc.’s holdings in AudioCodes were worth $9,963,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AUDC. Senvest Management LLC grew its position in AudioCodes by 159.5% in the third quarter. Senvest Management LLC now owns 2,546,011 shares of the communications equipment provider’s stock valued at $25,740,000 after acquiring an additional 1,565,039 shares during the period. Acadian Asset Management LLC grew its position in AudioCodes by 9.8% in the third quarter. Acadian Asset Management LLC now owns 1,106,660 shares of the communications equipment provider’s stock valued at $11,167,000 after acquiring an additional 98,938 shares during the period. Taylor Frigon Capital Management LLC grew its holdings in shares of AudioCodes by 13.5% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 240,572 shares of the communications equipment provider’s stock worth $2,904,000 after purchasing an additional 28,602 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of AudioCodes during the fourth quarter worth $2,074,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of AudioCodes during the third quarter worth $1,253,000. 68.05% of the stock is currently owned by institutional investors and hedge funds.

AudioCodes Trading Up 2.1 %

Shares of AUDC traded up $0.21 during trading hours on Tuesday, hitting $10.21. 137,245 shares of the stock traded hands, compared to its average volume of 79,816. AudioCodes Ltd. has a 1-year low of $7.14 and a 1-year high of $14.45. The firm has a market capitalization of $309.57 million, a PE ratio of 28.36, a price-to-earnings-growth ratio of 0.59 and a beta of 0.84. The business has a fifty day moving average of $11.87 and a 200-day moving average of $11.80.

Analyst Upgrades and Downgrades

AUDC has been the topic of several research analyst reports. Needham & Company LLC decreased their target price on AudioCodes from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. Finally, Barclays decreased their target price on AudioCodes from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, May 8th.

Check Out Our Latest Analysis on AUDC

About AudioCodes

(Free Report)

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.

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Institutional Ownership by Quarter for AudioCodes (NASDAQ:AUDC)

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