Taylor Frigon Capital Management LLC Cuts Stake in AudioCodes Ltd. (NASDAQ:AUDC)

Taylor Frigon Capital Management LLC lessened its holdings in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 355,864 shares of the communications equipment provider’s stock after selling 40,047 shares during the period. AudioCodes accounts for about 1.8% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Taylor Frigon Capital Management LLC’s holdings in AudioCodes were worth $3,617,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of AudioCodes during the third quarter valued at approximately $1,618,000. JPMorgan Chase & Co. raised its holdings in shares of AudioCodes by 95.1% during the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock valued at $1,012,000 after buying an additional 50,704 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of AudioCodes during the third quarter valued at approximately $595,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of AudioCodes by 11.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock valued at $893,000 after buying an additional 9,150 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of AudioCodes by 151.8% during the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 2,185 shares during the last quarter. Institutional investors own 68.05% of the company’s stock.

AudioCodes Price Performance

Shares of NASDAQ:AUDC opened at $11.25 on Thursday. AudioCodes Ltd. has a 12 month low of $7.70 and a 12 month high of $14.04. The stock has a market cap of $339.94 million, a price-to-earnings ratio of 22.50 and a beta of 0.80. The stock’s 50 day moving average price is $10.60 and its 200 day moving average price is $9.90.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.22 by $0.09. AudioCodes had a return on equity of 10.47% and a net margin of 6.32%. On average, sell-side analysts expect that AudioCodes Ltd. will post 0.7 EPS for the current year.

AudioCodes Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a yield of 3%. AudioCodes’s dividend payout ratio (DPR) is 72.00%.

Wall Street Analyst Weigh In

AUDC has been the topic of a number of recent analyst reports. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Needham & Company LLC boosted their target price on AudioCodes from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, Barclays boosted their target price on AudioCodes from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Wednesday, February 5th.

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.