AU Optronics Corp. (AUO) Trading Up 2.5%
AU Optronics Corp. (NYSE:AUO) was up 2.5% during mid-day trading on Monday . The company traded as high as $3.63 and last traded at $3.62, with a volume of 316,302 shares trading hands. The stock had previously closed at $3.53.
A number of equities research analysts recently issued reports on AUO shares. Sanford C. Bernstein downgraded shares of AU Optronics Corp. from an “outperform” rating to a “market perform” rating and upped their price target for the company from $3.81 to $4.00 in a research note on Friday, September 9th. They noted that the move was a valuation call. Bank of America Corp. raised shares of AU Optronics Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 19th. Credit Suisse Group AG raised shares of AU Optronics Corp. from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 29th. Zacks Investment Research raised shares of AU Optronics Corp. from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research note on Wednesday, July 20th. Finally, Jefferies Group downgraded shares of AU Optronics Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $3.58.
The stock’s market cap is $3.49 billion. The firm’s 50 day moving average is $3.93 and its 200 day moving average is $3.25.
AU Optronics Corp. (NYSE:AUO) last posted its earnings results on Wednesday, July 27th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.14. The firm earned $80.09 billion during the quarter, compared to analyst estimates of $77.62 billion. AU Optronics Corp. had a negative net margin of 3.35% and a negative return on equity of 5.49%. The business’s quarterly revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. On average, analysts expect that AU Optronics Corp. will post $0.09 EPS for the current year.
Several institutional investors have recently bought and sold shares of AUO. Bank of Montreal Can purchased a new position in AU Optronics Corp. during the second quarter valued at $104,000. Wetherby Asset Management Inc. boosted its stake in AU Optronics Corp. by 36.2% in the second quarter. Wetherby Asset Management Inc. now owns 38,691 shares of the company’s stock worth $135,000 after buying an additional 10,275 shares in the last quarter. Royal Bank of Canada boosted its stake in AU Optronics Corp. by 0.3% in the second quarter. Royal Bank of Canada now owns 39,284 shares of the company’s stock worth $137,000 after buying an additional 132 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in AU Optronics Corp. during the second quarter worth about $175,000. Finally, World Asset Management Inc boosted its stake in AU Optronics Corp. by 7.5% in the second quarter. World Asset Management Inc now owns 59,928 shares of the company’s stock worth $209,000 after buying an additional 4,173 shares in the last quarter. 6.88% of the stock is owned by hedge funds and other institutional investors.
About AU Optronics Corp.
Au Optronics Corp. is engaged in the research, development, production and sale of thin film transistor liquid crystal displays (TFT-LCDs) and other flat panel displays used in a range of applications. The Company is also engaged in the production and sale of solar photovoltaic (PV) modules and systems.
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