Applied Optoelectronics, Inc. (NASDAQ:AAOI) had its target price lowered by investment analysts at Needham & Company LLC from $115.00 to $75.00 in a research report issued on Friday. The brokerage presently has a “strong-buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 27.46% from the company’s previous close.
Several other research firms also recently issued reports on AAOI. Northland Securities downgraded Applied Optoelectronics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $47.00 to $43.00 in a report on Friday, August 4th. BidaskClub upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Raymond James Financial, Inc. restated a “strong-buy” rating on shares of Applied Optoelectronics in a report on Tuesday, July 25th. BWS Financial restated a “sell” rating and set a $25.00 price objective on shares of Applied Optoelectronics in a report on Saturday, July 22nd. Finally, DA Davidson boosted their price objective on Applied Optoelectronics from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $73.53.
Shares of Applied Optoelectronics (AAOI) opened at 58.84 on Friday. The firm’s 50 day moving average is $60.84 and its 200 day moving average is $64.01. The firm has a market capitalization of $1.14 billion, a PE ratio of 13.98 and a beta of 3.06. Applied Optoelectronics has a 1-year low of $18.85 and a 1-year high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.28. The firm had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The business’s revenue for the quarter was up 112.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. Analysts anticipate that Applied Optoelectronics will post $5.32 EPS for the current fiscal year.
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In other news, insider Shu-Hua (Joshua) Yeh sold 20,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $92.51, for a total value of $1,850,200.00. Following the transaction, the insider now owns 89,742 shares in the company, valued at approximately $8,302,032.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chewei Lin sold 7,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $58.00, for a total value of $406,000.00. Following the completion of the transaction, the director now owns 45,638 shares in the company, valued at approximately $2,647,004. The disclosure for this sale can be found here. Insiders sold a total of 34,633 shares of company stock worth $2,818,825 in the last quarter. 8.19% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of AAOI. Nationwide Fund Advisors increased its holdings in shares of Applied Optoelectronics by 3.1% in the 1st quarter. Nationwide Fund Advisors now owns 10,566 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 315 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of Applied Optoelectronics in the 1st quarter valued at about $296,000. Bank of New York Mellon Corp increased its holdings in shares of Applied Optoelectronics by 28.4% in the 1st quarter. Bank of New York Mellon Corp now owns 111,387 shares of the semiconductor company’s stock valued at $6,254,000 after purchasing an additional 24,630 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Applied Optoelectronics by 21.8% in the 1st quarter. Ameriprise Financial Inc. now owns 115,735 shares of the semiconductor company’s stock valued at $6,498,000 after purchasing an additional 20,695 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Applied Optoelectronics by 179.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 31,042 shares of the semiconductor company’s stock valued at $1,743,000 after purchasing an additional 19,949 shares during the period. Institutional investors own 81.59% of the company’s stock.
Applied Optoelectronics Company Profile
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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