AU Optronics Corp (AUO) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of AU Optronics Corp (NYSE:AUO) from a sell rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Au Optronics is a world-leading manufacturer of large-size thin film transistor liquid crystal display panels, which are currently the most widely used flat panel display technology. They are used in notebook computers, desktop monitors, televisions, digital cameras, DVD players, PDAs, mobile phones, portable games, and car navigation systems, among other applications. “
Other analysts have also recently issued research reports about the stock. Morgan Stanley cut shares of AU Optronics Corp from an overweight rating to an equal weight rating in a research note on Tuesday, August 15th. BidaskClub cut shares of AU Optronics Corp from a buy rating to a hold rating in a research note on Saturday, July 8th. Bank of America Corporation cut shares of AU Optronics Corp from a neutral rating to an underperform rating in a research note on Thursday, July 27th. Drexel Hamilton restated a hold rating on shares of AU Optronics Corp in a research note on Tuesday, August 8th. Finally, Credit Suisse Group restated a neutral rating on shares of AU Optronics Corp in a research note on Wednesday, July 12th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $4.38.
Shares of AU Optronics Corp (NYSE:AUO) opened at 4.09 on Tuesday. AU Optronics Corp has a 1-year low of $3.44 and a 1-year high of $4.95. The stock’s 50 day moving average is $3.95 and its 200 day moving average is $3.97. The company has a market cap of $3.94 billion, a P/E ratio of 3.47 and a beta of 0.50.
AU Optronics Corp (NYSE:AUO) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.02. AU Optronics Corp had a return on equity of 17.46% and a net margin of 9.48%. The firm had revenue of $84.41 billion during the quarter, compared to analyst estimates of $87.09 billion. During the same quarter last year, the business posted ($0.06) EPS. The firm’s revenue was up 5.4% on a year-over-year basis. On average, analysts predict that AU Optronics Corp will post $1.13 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new stake in shares of AU Optronics Corp during the second quarter valued at approximately $127,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of AU Optronics Corp during the first quarter valued at approximately $130,000. Diversified Trust Co bought a new stake in shares of AU Optronics Corp during the second quarter valued at approximately $130,000. US Bancorp DE boosted its stake in shares of AU Optronics Corp by 64.9% in the second quarter. US Bancorp DE now owns 28,514 shares of the semiconductor company’s stock valued at $130,000 after buying an additional 11,223 shares during the period. Finally, AXA bought a new stake in shares of AU Optronics Corp during the first quarter valued at approximately $142,000. Hedge funds and other institutional investors own 7.45% of the company’s stock.
About AU Optronics Corp
AU Optronics Corp. is a thin-film-transistor liquid-crystal display (TFT-LCD) panel provider. The Company operates in two business segments: display business and solar business. Through Display business segment, the Company designs, develops, manufactures, assembles and markets flat panel displays and most of its products are TFT-LCD panels.
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