Shares of Avid Technology, Inc. (NASDAQ:AVID) have earned an average broker rating score of 4.00 (Sell) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell recommendation and one has given a hold recommendation to the company. Avid Technology’s rating score has declined by 33.3% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12-month consensus price target of $4.75 for the company and are expecting that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also given Avid Technology an industry rank of 120 out of 265 based on the ratings given to related companies.
A number of research analysts have weighed in on the company. ValuEngine upgraded Avid Technology from a “hold” rating to a “buy” rating in a report on Saturday, February 3rd. Zacks Investment Research downgraded Avid Technology from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Finally, Dougherty & Co downgraded Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 price target on the stock. in a research note on Thursday, December 7th.
Avid Technology (NASDAQ AVID) opened at $4.84 on Thursday. Avid Technology has a twelve month low of $3.99 and a twelve month high of $7.65. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of -0.71. The firm has a market capitalization of $199.34, a P/E ratio of 13.44 and a beta of 1.80.
In related news, Director Robert M. Bakish purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were bought at an average price of $6.00 per share, for a total transaction of $120,000.00. Following the purchase, the director now directly owns 693,058 shares of the company’s stock, valued at approximately $4,158,348. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of Avid Technology by 13.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,909,953 shares of the technology company’s stock worth $10,047,000 after buying an additional 229,071 shares during the last quarter. Millennium Management LLC grew its stake in shares of Avid Technology by 1,366.2% in the 4th quarter. Millennium Management LLC now owns 1,353,543 shares of the technology company’s stock worth $7,296,000 after buying an additional 1,261,229 shares during the last quarter. Royce & Associates LP grew its stake in shares of Avid Technology by 10.4% in the 4th quarter. Royce & Associates LP now owns 634,998 shares of the technology company’s stock worth $3,423,000 after buying an additional 60,000 shares during the last quarter. State Street Corp grew its stake in shares of Avid Technology by 5.3% in the 2nd quarter. State Street Corp now owns 518,585 shares of the technology company’s stock worth $2,729,000 after buying an additional 25,891 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Avid Technology by 4.1% in the 2nd quarter. Northern Trust Corp now owns 379,522 shares of the technology company’s stock worth $1,996,000 after buying an additional 15,086 shares during the last quarter. Institutional investors own 71.45% of the company’s stock.
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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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