Avid Technology, Inc. (NASDAQ:AVID – Get Free Report) has been assigned an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $32.81.
A number of brokerages recently issued reports on AVID. B. Riley downgraded Avid Technology from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $35.00 to $27.05 in a research report on Thursday. Northland Securities downgraded Avid Technology from an “outperform” rating to a “market perform” rating in a research report on Thursday. Jefferies Financial Group raised their price target on Avid Technology from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday. StockNews.com downgraded Avid Technology from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Finally, Rosenblatt Securities decreased their target price on Avid Technology from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday.
Read Our Latest Report on AVID
Avid Technology Price Performance
Institutional Trading of Avid Technology
Several institutional investors and hedge funds have recently made changes to their positions in AVID. BlackRock Inc. raised its holdings in shares of Avid Technology by 122.4% in the third quarter. BlackRock Inc. now owns 5,410,382 shares of the technology company’s stock valued at $125,845,000 after acquiring an additional 2,977,539 shares in the last quarter. FMR LLC grew its position in shares of Avid Technology by 16.3% in the 1st quarter. FMR LLC now owns 5,058,536 shares of the technology company’s stock worth $161,772,000 after buying an additional 710,031 shares during the last quarter. Royce & Associates LP raised its stake in shares of Avid Technology by 36.1% during the 2nd quarter. Royce & Associates LP now owns 2,377,807 shares of the technology company’s stock worth $60,634,000 after acquiring an additional 630,285 shares in the last quarter. Vanguard Group Inc. lifted its position in Avid Technology by 31.9% during the third quarter. Vanguard Group Inc. now owns 2,489,355 shares of the technology company’s stock valued at $57,902,000 after acquiring an additional 602,451 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Avid Technology in the first quarter valued at approximately $20,908,000. 85.35% of the stock is currently owned by institutional investors.
About Avid Technology
Avid Technology, Inc, together with its subsidiaries, develops, markets, sells, and supports software and integrated solutions for video and audio content creation, management, and distribution in the United States and internationally. The company's video products and solutions include the Media Composer, a cloud-enabled solution used to edit video content; Avid NEXIS shared storage systems; Maestro solutions for the integration of virtual sets, augmented reality, and video wall control into existing workflows; AirSpeed 5000 and AirSpeed 5500 on-air server solutions; and MediaCentral, a media production suite.
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