FY2018 Earnings Estimate for Avid Technology, Inc. Issued By Dougherty & Co (AVID)
Avid Technology, Inc. (NASDAQ:AVID) – Research analysts at Dougherty & Co lifted their FY2018 EPS estimates for shares of Avid Technology in a report released on Sunday. Dougherty & Co analyst S. Frankel now anticipates that the technology company will post earnings of $0.26 per share for the year, up from their previous forecast of $0.24.
A number of other equities analysts have also issued reports on AVID. Zacks Investment Research raised shares of Avid Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine lowered shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.
A number of hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its position in Avid Technology by 28.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 199,265 shares of the technology company’s stock worth $905,000 after acquiring an additional 43,675 shares during the period. Royce & Associates LP increased its position in Avid Technology by 71.6% during the third quarter. Royce & Associates LP now owns 574,998 shares of the technology company’s stock worth $2,610,000 after acquiring an additional 240,000 shares during the period. Trexquant Investment LP bought a new position in Avid Technology during the third quarter worth $130,000. Dynamic Technology Lab Private Ltd bought a new position in Avid Technology during the third quarter worth $109,000. Finally, West Coast Financial LLC bought a new position in Avid Technology during the third quarter worth $233,000. 72.11% of the stock is currently owned by institutional investors and hedge funds.
Avid Technology Company Profile
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.
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