Applied Optoelectronics, Inc. (NASDAQ:AAOI) was downgraded by Craig Hallum from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other equities research analysts have also recently weighed in on AAOI. Piper Jaffray Companies reiterated an “overweight” rating and set a $63.00 price target on shares of Applied Optoelectronics in a research report on Friday. Needham & Company LLC decreased their price target on Applied Optoelectronics from $115.00 to $75.00 and set a “strong-buy” rating on the stock in a research report on Friday. Roth Capital reiterated a “buy” rating and set a $90.00 price target on shares of Applied Optoelectronics in a research report on Thursday, August 10th. Cowen and Company restated an “outperform” rating and issued a $102.00 price objective (up from $100.00) on shares of Applied Optoelectronics in a research report on Wednesday, August 9th. Finally, Vetr cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 price objective on the stock. in a research report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $73.53.
Applied Optoelectronics (AAOI) opened at 58.84 on Friday. The firm has a 50-day moving average of $60.84 and a 200 day moving average of $64.01. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 13.98 and a beta of 3.06. Applied Optoelectronics has a 12-month low of $18.85 and a 12-month high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm had revenue of $117.40 million for the quarter, compared to analysts’ expectations of $117.34 million. During the same period in the prior year, the business posted $0.16 earnings per share. The company’s revenue was up 112.3% on a year-over-year basis. Analysts expect that Applied Optoelectronics will post $5.32 EPS for the current fiscal year.
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In other Applied Optoelectronics news, General Counsel David C. Kuo sold 578 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $96.47, for a total value of $55,759.66. Following the completion of the sale, the general counsel now owns 23,753 shares of the company’s stock, valued at $2,291,451.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shu-Hua (Joshua) Yeh sold 20,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 89,742 shares of the company’s stock, valued at approximately $8,302,032.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,633 shares of company stock worth $2,818,825. 8.19% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC boosted its stake in Applied Optoelectronics by 20.5% in the second quarter. Lord Abbett & CO. LLC now owns 213,020 shares of the semiconductor company’s stock worth $13,163,000 after buying an additional 36,182 shares in the last quarter. Navellier & Associates Inc purchased a new stake in Applied Optoelectronics in the second quarter worth approximately $1,288,000. Advisory Services Network LLC purchased a new stake in Applied Optoelectronics in the second quarter worth approximately $137,000. Public Employees Retirement System of Ohio boosted its stake in Applied Optoelectronics by 132.5% in the second quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock worth $7,614,000 after buying an additional 70,224 shares in the last quarter. Finally, Sterneck Capital Management LLC purchased a new stake in Applied Optoelectronics in the second quarter worth approximately $247,000. 81.59% of the stock is owned by institutional investors and hedge funds.
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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