Taylor Frigon Capital Management LLC Has $3.85 Million Stock Holdings in AudioCodes Ltd. (NASDAQ:AUDC)

Taylor Frigon Capital Management LLC cut its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 10.4% during the third quarter, HoldingsChannel reports. The firm owned 395,911 shares of the communications equipment provider’s stock after selling 45,967 shares during the period. AudioCodes comprises 1.9% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Taylor Frigon Capital Management LLC’s holdings in AudioCodes were worth $3,851,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Hillsdale Investment Management Inc. bought a new position in shares of AudioCodes during the 1st quarter worth about $159,000. XTX Topco Ltd bought a new position in AudioCodes during the second quarter valued at about $143,000. Quadrature Capital Ltd acquired a new position in AudioCodes in the 4th quarter valued at approximately $166,000. Marshall Wace LLP raised its holdings in AudioCodes by 37.5% in the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after acquiring an additional 7,009 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of AudioCodes in the 1st quarter worth approximately $340,000. Institutional investors and hedge funds own 68.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AUDC. StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 11th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of AudioCodes in a report on Wednesday, July 31st.

AudioCodes Stock Down 0.4 %

AUDC traded down $0.04 during midday trading on Thursday, reaching $9.13. 7,179 shares of the company’s stock were exchanged, compared to its average volume of 75,405. The business has a 50-day simple moving average of $9.86 and a two-hundred day simple moving average of $10.30. The firm has a market capitalization of $276.86 million, a price-to-earnings ratio of 25.47 and a beta of 0.86. AudioCodes Ltd. has a one year low of $7.14 and a one year high of $14.45.

AudioCodes (NASDAQ:AUDC) last posted its earnings results on Tuesday, July 30th. The communications equipment provider reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. AudioCodes had a return on equity of 10.42% and a net margin of 5.61%. The business had revenue of $60.30 million during the quarter, compared to the consensus estimate of $59.93 million. As a group, research analysts anticipate that AudioCodes Ltd. will post 0.67 EPS for the current fiscal year.

AudioCodes Announces Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.18 dividend. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 3.3%. AudioCodes’s dividend payout ratio is presently 100.00%.

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.