Zacks Investment Research upgraded shares of Avid Technology, Inc. (OTCMKTS:AVID) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Avid Technology, Inc. develops, markets, sells and supports a wide range of software and systems for creating and manipulating digital media content. Digital media are media elements, whether video or audio or graphics, in which the image, sound or picture is recorded and stored as digital values, as opposed to analog signals. The company’s systems are designed to improve the productivity of video and film editors by enabling them to edit moving pictures and sound in a faster, easier, and more cost-effective manner than traditional analog tape-based systems. “

Separately, ValuEngine cut Avid Technology from a buy rating to a hold rating in a research report on Friday, September 1st.

Avid Technology (OTCMKTS:AVID) opened at 4.48 on Wednesday. The stock’s 50 day moving average is $4.49 and its 200-day moving average is $4.96. Avid Technology has a 52-week low of $3.99 and a 52-week high of $8.18. The firm has a market capitalization of $184.26 million and a PE ratio of 114.87.

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A number of institutional investors have recently added to or reduced their stakes in AVID. Cove Street Capital LLC raised its stake in Avid Technology by 30.4% during the first quarter. Cove Street Capital LLC now owns 5,591,662 shares of the technology company’s stock worth $26,058,000 after acquiring an additional 1,303,737 shares in the last quarter. S Squared Technology LLC acquired a new position in Avid Technology during the second quarter worth $1,262,000. Dimensional Fund Advisors LP raised its stake in Avid Technology by 13.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,909,953 shares of the technology company’s stock worth $10,047,000 after acquiring an additional 229,071 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Avid Technology by 17.9% during the first quarter. Russell Investments Group Ltd. now owns 1,358,646 shares of the technology company’s stock worth $6,332,000 after acquiring an additional 206,424 shares in the last quarter. Finally, Morgan Stanley raised its stake in Avid Technology by 44.8% during the first quarter. Morgan Stanley now owns 517,187 shares of the technology company’s stock worth $2,410,000 after acquiring an additional 160,044 shares in the last quarter.

About Avid Technology

Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.

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