AU Optronics Corp. (AUO) Sees Large Volume Increase
AU Optronics Corp. (NYSE:AUO) shares saw unusually-strong trading volume on Wednesday . Approximately 2,504,782 shares traded hands during mid-day trading, an increase of 102% from the previous session’s volume of 1,239,929 shares.The stock last traded at $3.90 and had previously closed at $4.06.
Several equities research analysts recently issued reports on AUO shares. Bank of America Corp. upgraded 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 upgraded shares of AU Optronics Corp. from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 29th. Zacks Investment Research upgraded shares of AU Optronics Corp. from a “hold” rating to a “buy” rating and set a $4.25 target price for the company 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. AU Optronics Corp. currently has an average rating of “Buy” and a consensus price target of $3.38.
The firm’s 50-day moving average is $3.99 and its 200-day moving average is $3.16. The company’s market cap is $3.71 billion.
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, topping the Zacks’ consensus estimate of ($0.20) by $0.14. During the same period last year, the company posted $0.47 EPS. The firm had revenue of $80.09 billion for the quarter, compared to the consensus estimate of $77.62 billion. The business’s revenue was down 13.2% on a year-over-year basis. Equities analysts anticipate that AU Optronics Corp. will post $0.09 earnings per share for the current year.
A hedge fund recently raised its stake in AU Optronics Corp. stock. Dimensional Fund Advisors LP boosted its position in AU Optronics Corp. (NYSE:AUO) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,955,113 shares of the company’s stock after buying an additional 308,202 shares during the period. Dimensional Fund Advisors LP owned approximately 1.87% of AU Optronics Corp. worth $52,251,000 at the end of the most recent quarter.
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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