AU Optronics (NYSE:AUO) Shares Up 7.7%

AU Optronics Corp (NYSE:AUO)’s share price shot up 7.7% on Friday . The company traded as high as $2.40 and last traded at $2.37, 1,167,145 shares traded hands during trading. An increase of 34% from the average session volume of 869,239 shares. The stock had previously closed at $2.20.

A number of research firms have weighed in on AUO. Zacks Investment Research raised shares of AU Optronics from a “sell” rating to a “hold” rating in a research report on Friday. HSBC raised shares of AU Optronics from a “reduce” rating to a “hold” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. AU Optronics currently has an average rating of “Hold” and a consensus price target of $3.25.

The stock’s 50-day moving average price is $2.68 and its 200 day moving average price is $3.23. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 6.97 and a beta of 0.78. The company has a quick ratio of 1.29, a current ratio of 1.56 and a debt-to-equity ratio of 0.49.

AU Optronics (NYSE:AUO) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.09. AU Optronics had a negative net margin of 0.59% and a negative return on equity of 0.81%. The firm had revenue of $70.07 billion during the quarter, compared to analyst estimates of $70.06 billion. During the same quarter in the prior year, the business posted $0.13 earnings per share. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, research analysts predict that AU Optronics Corp will post -0.37 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in AU Optronics by 8.8% in the second quarter. Renaissance Technologies LLC now owns 15,216,596 shares of the semiconductor company’s stock worth $45,041,000 after purchasing an additional 1,230,300 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in AU Optronics by 19.6% in the second quarter. Parametric Portfolio Associates LLC now owns 4,663,433 shares of the semiconductor company’s stock worth $13,804,000 after purchasing an additional 764,908 shares in the last quarter. Morgan Stanley raised its position in AU Optronics by 9.2% in the second quarter. Morgan Stanley now owns 1,201,545 shares of the semiconductor company’s stock worth $3,557,000 after purchasing an additional 101,509 shares in the last quarter. FNY Investment Advisers LLC grew its stake in AU Optronics by 671.8% during the second quarter. FNY Investment Advisers LLC now owns 809,761 shares of the semiconductor company’s stock worth $2,396,000 after buying an additional 704,837 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in AU Optronics by 7.0% during the second quarter. Wells Fargo & Company MN now owns 515,816 shares of the semiconductor company’s stock worth $1,527,000 after buying an additional 33,533 shares during the last quarter. 6.86% of the stock is owned by hedge funds and other institutional investors.

About AU Optronics (NYSE:AUO)

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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