Citigroup Inc. Reduces Position in AU Optronics Corp (AUO)
Citigroup Inc. reduced its position in shares of AU Optronics Corp (NYSE:AUO) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 360,485 shares of the semiconductor company’s stock after selling 20,327 shares during the period. Citigroup Inc.’s holdings in AU Optronics Corp were worth $1,643,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its holdings in AU Optronics Corp by 0.9% during the 2nd quarter. Wells Fargo & Company MN now owns 127,957 shares of the semiconductor company’s stock worth $583,000 after purchasing an additional 1,201 shares during the last quarter. Renaissance Group LLC lifted its holdings in AU Optronics Corp by 9.4% during the 2nd quarter. Renaissance Group LLC now owns 115,274 shares of the semiconductor company’s stock worth $526,000 after purchasing an additional 9,931 shares during the last quarter. Airain ltd lifted its holdings in AU Optronics Corp by 182.4% during the 2nd quarter. Airain ltd now owns 147,486 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 95,255 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in AU Optronics Corp during the 2nd quarter worth approximately $213,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in AU Optronics Corp by 20.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 844,009 shares of the semiconductor company’s stock worth $3,849,000 after purchasing an additional 142,600 shares during the last quarter. 7.44% of the stock is owned by institutional investors and hedge funds.
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Several analysts recently weighed in on the company. Morgan Stanley cut AU Optronics Corp from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 15th. ValuEngine raised AU Optronics Corp from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Bank of America Corporation cut AU Optronics Corp from a “neutral” rating to an “underperform” rating in a report on Thursday, July 27th. BidaskClub cut AU Optronics Corp from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Zacks Investment Research cut AU Optronics Corp from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $4.75.
AU Optronics Corp (AUO) opened at 4.04 on Friday. AU Optronics Corp has a 1-year low of $3.44 and a 1-year high of $4.95. The firm’s 50-day moving average price is $3.99 and its 200-day moving average price is $4.00. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 3.39 and a beta of 0.50.
AU Optronics Corp (NYSE:AUO) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $84.41 billion during the quarter, compared to analysts’ expectations of $87.09 billion. During the same quarter last year, the business posted ($0.06) EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that AU Optronics Corp will post $1.13 EPS for the current fiscal year.
AU Optronics Corp Profile
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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