Comerica Bank reduced its position in AU Optronics Corp (NYSE:AUO) by 6.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 52,211 shares of the semiconductor company’s stock after selling 3,863 shares during the quarter. Comerica Bank’s holdings in AU Optronics were worth $198,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of AU Optronics by 8.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 35,044 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 2,829 shares during the period. Renaissance Group LLC lifted its holdings in shares of AU Optronics by 1.9% during the first quarter. Renaissance Group LLC now owns 179,427 shares of the semiconductor company’s stock worth $653,000 after purchasing an additional 3,366 shares during the period. First Trust Advisors LP lifted its holdings in shares of AU Optronics by 14.5% during the fourth quarter. First Trust Advisors LP now owns 30,022 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 3,792 shares during the period. Millennium Management LLC lifted its holdings in AU Optronics by 38.1% in the fourth quarter. Millennium Management LLC now owns 20,088 shares of the semiconductor company’s stock valued at $79,000 after acquiring an additional 5,538 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in AU Optronics in the fourth quarter valued at $45,000. 6.91% of the stock is owned by institutional investors and hedge funds.
AUO has been the subject of a number of recent analyst reports. Zacks Investment Research raised AU Optronics from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Tuesday, March 26th. Credit Suisse Group raised AU Optronics from an “underperform” rating to a “neutral” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. AU Optronics presently has a consensus rating of “Hold” and a consensus price target of $4.25.
AU Optronics (NYSE:AUO) last released its earnings results on Thursday, April 25th. The semiconductor company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. AU Optronics had a return on equity of 1.03% and a net margin of 0.73%. The company had revenue of $66.71 billion during the quarter, compared to the consensus estimate of $68.07 billion. During the same quarter last year, the company earned $0.45 earnings per share. AU Optronics’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts predict that AU Optronics Corp will post -0.16 earnings per share for the current year.
AU Optronics Profile
AU Optronics Corp. researches, develops, produces, and sells thin film transistor liquid crystal displays and other flat panel displays. The company operates through two segments, Display and Solar. The Display segment designs, develops, manufactures, assembles, and markets flat panel displays for use in televisions (TVs), TV sets, and other related products; desktop monitors; mobile PCs, such as notebooks and tablets; mobile phones; and commercial and other applications, including displays for automobiles, industrial PCs, automated teller machines, point of sale terminals, pachinko machines, medical equipment, and others.
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