Royce & Associates LP decreased its holdings in shares of Avid Technology, Inc. (NASDAQ:AVID) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,660,660 shares of the technology company’s stock after selling 72,307 shares during the quarter. Royce & Associates LP’s holdings in Avid Technology were worth $26,355,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Miller Value Partners LLC lifted its stake in shares of Avid Technology by 119.3% in the 3rd quarter. Miller Value Partners LLC now owns 1,505,000 shares of the technology company’s stock valued at $12,883,000 after purchasing an additional 818,716 shares during the last quarter. Voss Capital LLC acquired a new position in Avid Technology in the third quarter valued at about $6,097,000. BlackRock Inc. boosted its stake in Avid Technology by 13.2% during the fourth quarter. BlackRock Inc. now owns 2,365,197 shares of the technology company’s stock worth $37,535,000 after buying an additional 276,694 shares during the period. Rock Creek Group LP acquired a new stake in shares of Avid Technology during the third quarter valued at about $2,152,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Avid Technology by 57.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 340,712 shares of the technology company’s stock worth $2,917,000 after acquiring an additional 124,581 shares during the last quarter. 67.32% of the stock is owned by institutional investors.
A number of research firms have commented on AVID. Northland Securities upped their price target on Avid Technology from $32.00 to $22.00 in a research note on Tuesday, February 9th. B. Riley boosted their price target on shares of Avid Technology from $13.50 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 31st. Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Thursday, January 7th. Finally, Maxim Group raised their price target on shares of Avid Technology from $14.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, January 8th.
Shares of AVID stock opened at $21.44 on Tuesday. Avid Technology, Inc. has a 12 month low of $4.67 and a 12 month high of $24.47. The company has a market cap of $947.82 million, a P/E ratio of 49.86 and a beta of 1.30. The firm has a fifty day moving average price of $19.09 and a 200 day moving average price of $12.40.
Avid Technology Profile
Avid Technology, Inc develops, markets, sells, and supports software and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer, a cloud-enabled solution used to edit video content; 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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