AudioCodes Ltd. $AUDC Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. cut its holdings in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 19.0% in the 4th quarter, Holdings Channel reports. The firm owned 833,800 shares of the communications equipment provider’s stock after selling 195,050 shares during the period. Heartland Advisors Inc.’s holdings in AudioCodes were worth $7,279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AUDC. Millennium Management LLC lifted its stake in AudioCodes by 182.9% during the third quarter. Millennium Management LLC now owns 141,319 shares of the communications equipment provider’s stock valued at $1,345,000 after purchasing an additional 91,361 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of AudioCodes by 9.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 620,844 shares of the communications equipment provider’s stock valued at $5,936,000 after acquiring an additional 53,266 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of AudioCodes by 16.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 313,151 shares of the communications equipment provider’s stock valued at $2,734,000 after acquiring an additional 44,073 shares during the period. Bank of America Corp DE raised its holdings in shares of AudioCodes by 186.0% during the third quarter. Bank of America Corp DE now owns 57,727 shares of the communications equipment provider’s stock valued at $550,000 after acquiring an additional 37,542 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of AudioCodes during the fourth quarter valued at approximately $239,000. 68.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

AudioCodes Stock Performance

AudioCodes stock opened at $9.40 on Thursday. The firm has a market cap of $239.23 million, a PE ratio of 37.60 and a beta of 0.97. The firm’s 50 day moving average price is $9.01 and its two-hundred day moving average price is $8.58. AudioCodes Ltd. has a twelve month low of $6.95 and a twelve month high of $11.50.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $62.14 million during the quarter, compared to analyst estimates of $61.50 million. AudioCodes had a net margin of 2.79% and a return on equity of 6.33%.

About AudioCodes

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.