Avid Technology, Inc. (OTCMKTS:AVID) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.

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 downgraded Avid Technology from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th.

Shares of Avid Technology (AVID) traded down 1.58% during midday trading on Wednesday, hitting $4.36. The stock had a trading volume of 273,195 shares. The stock has a market cap of $179.32 million and a PE ratio of 111.79. Avid Technology has a 12 month low of $3.99 and a 12 month high of $8.18. The stock’s 50-day moving average is $4.49 and its 200-day moving average is $4.96.

ILLEGAL ACTIVITY WARNING: “Avid Technology, Inc. (AVID) Upgraded by Zacks Investment Research to “Hold”” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/09/20/avid-technology-inc-avid-upgraded-by-zacks-investment-research-to-hold.html.

Several large investors have recently made changes to their positions in AVID. Cove Street Capital LLC increased its position in Avid Technology by 9.2% during the second quarter. Cove Street Capital LLC now owns 6,105,539 shares of the technology company’s stock valued at $32,115,000 after acquiring an additional 513,877 shares during the last quarter. Vanguard Group Inc. increased its position in Avid Technology by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,373,218 shares of the technology company’s stock valued at $11,059,000 after acquiring an additional 35,225 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 valued at $10,047,000 after acquiring an additional 229,071 shares during the last quarter. Russell Investments Group Ltd. increased its position in Avid Technology by 11.8% during the second quarter. Russell Investments Group Ltd. now owns 1,518,584 shares of the technology company’s stock valued at $7,987,000 after acquiring an additional 159,938 shares during the last quarter. Finally, State Street Corp increased its position in Avid Technology by 5.3% during the second quarter. State Street Corp now owns 518,585 shares of the technology company’s stock valued at $2,729,000 after acquiring an additional 25,891 shares during 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.

Get a free copy of the Zacks research report on Avid Technology (AVID)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Avid Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avid Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.