Cowen and Company reiterated their outperform rating on shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) in a report issued on Wednesday morning. They currently have a $102.00 price objective on the semiconductor company’s stock, up from their previous price objective of $100.00.
A number of other equities research analysts have also recently commented on the stock. Vetr cut shares of Applied Optoelectronics from a strong-buy rating to a buy rating and set a $72.50 price target on the stock. in a report on Monday, August 7th. Northland Securities set a $47.00 price target on shares of Applied Optoelectronics and gave the company a sell rating in a report on Monday, August 7th. DA Davidson set a $103.00 price target on shares of Applied Optoelectronics and gave the company a buy rating in a report on Saturday, August 5th. ValuEngine upgraded shares of Applied Optoelectronics from a buy rating to a strong-buy rating in a report on Friday, August 4th. Finally, BidaskClub upgraded shares of Applied Optoelectronics from a buy rating to a strong-buy rating in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, six have assigned a buy rating and six have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $76.98.
Applied Optoelectronics (NASDAQ:AAOI) opened at 65.84 on Wednesday. The firm’s 50-day moving average price is $77.58 and its 200-day moving average price is $57.87. The firm has a market cap of $1.27 billion, a P/E ratio of 15.64 and a beta of 2.98. Applied Optoelectronics has a 1-year low of $13.06 and a 1-year high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The business had revenue of $117.40 million during the quarter, compared to the consensus estimate of $117.34 million. During the same quarter last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up 112.3% on a year-over-year basis. Equities research analysts anticipate that Applied Optoelectronics will post $5.38 earnings per share for the current fiscal year.
In related news, Director Chewei Lin sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $64.00, for a total value of $480,000.00. Following the sale, the director now owns 53,717 shares in the company, valued at $3,437,888. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stefan J. Murry sold 3,168 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $63.51, for a total transaction of $201,199.68. Following the completion of the sale, the chief financial officer now owns 58,526 shares in the company, valued at approximately $3,716,986.26. The disclosure for this sale can be found here. Insiders sold 84,758 shares of company stock worth $6,295,754 in the last 90 days. 8.19% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of Applied Optoelectronics by 96.2% in the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 993 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in Applied Optoelectronics during the second quarter valued at $144,000. PNC Financial Services Group Inc. acquired a new position in Applied Optoelectronics during the second quarter valued at $149,000. Advisor Group Inc. increased its position in Applied Optoelectronics by 82.3% in the second quarter. Advisor Group Inc. now owns 2,505 shares of the semiconductor company’s stock valued at $155,000 after buying an additional 1,131 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Applied Optoelectronics during the first quarter valued at $196,000. Institutional investors own 77.36% of the company’s stock.
About Applied Optoelectronics
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.
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