Applied Optoelectronics’ (AAOI) Outperform Rating Reiterated at Cowen and Company

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.

ILLEGAL ACTIVITY NOTICE: “Applied Optoelectronics’ (AAOI) Outperform Rating Reiterated at Cowen and Company” was reported by Stock Observer and is owned by of Stock Observer. If you are reading this article on another website, it was illegally copied and republished in violation of international copyright and trademark laws. The original version of this article can be viewed at https://www.thestockobserver.com/2017/08/12/applied-optoelectronics-aaoi-outperform-rating-reiterated-at-cowen-and-company.html.

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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

Receive News & Ratings for Applied Optoelectronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply