Eagle Global Advisors LLC Purchases New Stake in AudioCodes Ltd. (NASDAQ:AUDC)

Eagle Global Advisors LLC purchased a new stake in shares of AudioCodes Ltd. (NASDAQ:AUDC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,000 shares of the communications equipment provider’s stock, valued at approximately $338,000. Eagle Global Advisors LLC owned approximately 0.09% of AudioCodes at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AUDC. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of AudioCodes during the 3rd quarter valued at approximately $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in AudioCodes in the third quarter worth $134,000. Cornerstone Investment Partners LLC acquired a new stake in AudioCodes in the fourth quarter worth $173,000. Atria Wealth Solutions Inc. acquired a new stake in AudioCodes in the third quarter worth $188,000. Finally, New York State Common Retirement Fund increased its position in AudioCodes by 163.8% in the fourth quarter. New York State Common Retirement Fund now owns 15,828 shares of the communications equipment provider’s stock worth $191,000 after buying an additional 9,827 shares during the period. 68.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

AudioCodes Price Performance

Shares of AUDC traded up $0.05 during trading hours on Friday, reaching $10.04. 39,032 shares of the company’s stock traded hands, compared to its average volume of 91,782. The firm has a market capitalization of $304.41 million, a price-to-earnings ratio of 27.89, a P/E/G ratio of 0.61 and a beta of 0.84. AudioCodes Ltd. has a twelve month low of $7.14 and a twelve month high of $14.45. The business’s fifty day simple moving average is $11.35 and its two-hundred day simple moving average is $11.82.

AudioCodes 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.