ValuEngine upgraded shares of Avid Technology, Inc. (NASDAQ:AVID) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Separately, Zacks Investment Research raised Avid Technology from a hold rating to a buy rating and set a $6.00 target price on the stock in a report on Wednesday, November 15th.

Shares of Avid Technology (NASDAQ AVID) opened at $6.59 on Tuesday. The company has a debt-to-equity ratio of -0.71, a current ratio of 0.65 and a quick ratio of 0.46. The firm has a market capitalization of $263.59, a price-to-earnings ratio of 17.78 and a beta of 1.57. Avid Technology has a twelve month low of $3.99 and a twelve month high of $6.65.

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A number of institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its holdings in Avid Technology by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 92,881 shares of the technology company’s stock valued at $489,000 after purchasing an additional 551 shares during the last quarter. Rhumbline Advisers grew its holdings in Avid Technology by 1.5% in the second quarter. Rhumbline Advisers now owns 38,892 shares of the technology company’s stock valued at $205,000 after purchasing an additional 558 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Avid Technology by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,927 shares of the technology company’s stock valued at $158,000 after acquiring an additional 2,386 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Avid Technology by 25.6% during the second quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock valued at $109,000 after acquiring an additional 4,220 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Avid Technology by 5.2% during the second quarter. Nationwide Fund Advisors now owns 147,341 shares of the technology company’s stock valued at $775,000 after acquiring an additional 7,219 shares during the last quarter. 72.38% of the stock is currently owned by institutional investors.

About Avid Technology

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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