AU Optronics Corp. (AUO) Shares Gap Up to $3.63
AU Optronics Corp. (NYSE:AUO) gapped up before the market opened on Tuesday . The stock had previously closed at $3.57, but opened at $3.63. AU Optronics Corp. shares last traded at $3.72, with a volume of 294,843 shares trading hands.
A number of equities research analysts have recently weighed in on the stock. Jefferies Group lowered shares of AU Optronics Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Zacks Investment Research raised shares of AU Optronics Corp. from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research note on Wednesday, July 20th. Credit Suisse Group AG raised shares of AU Optronics Corp. from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 29th. Bank of America Corp. raised shares of AU Optronics Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 19th. Finally, Sanford C. Bernstein lowered shares of AU Optronics Corp. from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $3.81 to $4.00 in a research note on Friday, September 9th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $3.58.
The company has a 50 day moving average of $3.92 and a 200-day moving average of $3.26. The firm’s market cap is $3.59 billion.
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AU Optronics Corp. (NYSE:AUO) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.14. The company had revenue of $80.09 billion for the quarter, compared to the consensus estimate of $77.62 billion. AU Optronics Corp. had a negative net margin of 3.35% and a negative return on equity of 5.49%. AU Optronics Corp.’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. On average, equities research analysts expect that AU Optronics Corp. will post $0.09 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in AU Optronics Corp. by 3.3% in the second quarter. Vanguard Group Inc. now owns 9,181,419 shares of the company’s stock worth $32,043,000 after buying an additional 295,037 shares during the last quarter. NINE MASTS CAPITAL Ltd increased its stake in shares of AU Optronics Corp. by 2.1% in the second quarter. NINE MASTS CAPITAL Ltd now owns 2,617,573 shares of the company’s stock valued at $8,885,000 after buying an additional 54,263 shares in the last quarter. World Asset Management Inc increased its stake in shares of AU Optronics Corp. by 7.5% in the second quarter. World Asset Management Inc now owns 59,928 shares of the company’s stock valued at $209,000 after buying an additional 4,173 shares in the last quarter. Columbus Circle Investors purchased a new stake in shares of AU Optronics Corp. during the second quarter valued at $1,699,000. Finally, Bank of Montreal Can purchased a new stake in shares of AU Optronics Corp. during the second quarter valued at $104,000. 6.88% of the stock is currently owned by institutional investors.
About AU Optronics Corp.
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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