AU Optronics Corp. (AUO) Downgraded to Market Perform at Sanford C. Bernstein

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AU Optronics Corp. (NYSE:AUO) was downgraded by stock analysts at Sanford C. Bernstein to a “market perform” rating in a research report issued to clients and investors on Friday.
Several other analysts have also recently issued reports on AUO. Zacks Investment Research upgraded AU Optronics Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Jefferies Group cut AU Optronics Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Credit Suisse Group AG upgraded AU Optronics Corp. from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 29th. Finally, Bank of America Corp. upgraded AU Optronics Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 19th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $3.38.
AU Optronics Corp. (NYSE:AUO) opened at 3.81 on Friday. The firm’s market capitalization is $3.67 billion. The company’s 50-day moving average price is $4.03 and its 200 day moving average price is $3.19. AU Optronics Corp. has a one year low of $2.32 and a one year high of $4.42.

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AU Optronics Corp. (NYSE:AUO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.14. The firm had revenue of $80.09 billion for the quarter, compared to analyst estimates of $77.62 billion. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. On average, analysts forecast that AU Optronics Corp. will post $0.09 earnings per share for the current year.
Other hedge funds recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of AU Optronics Corp. by 14.3% in the first quarter. Envestnet Asset Management Inc. now owns 69,395 shares of the company’s stock worth $205,000 after buying an additional 8,662 shares during the period. BlackRock Inc. raised its position in shares of AU Optronics Corp. by 3.4% in the first quarter. BlackRock Inc. now owns 398,909 shares of the company’s stock worth $1,177,000 after buying an additional 13,218 shares during the period. Bank of Montreal Can acquired a new position in shares of AU Optronics Corp. during the second quarter worth about $104,000. Aperio Group LLC raised its position in shares of AU Optronics Corp. by 9.4% in the first quarter. Aperio Group LLC now owns 615,400 shares of the company’s stock worth $1,815,000 after buying an additional 52,949 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of AU Optronics Corp. by 64.2% in the first quarter. Goldman Sachs Group Inc. now owns 146,170 shares of the company’s stock worth $431,000 after buying an additional 57,126 shares during the period. Institutional investors and hedge funds own 6.88% of the company’s stock.
AU Optronics Corp. Company Profile
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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