Applied Optoelectronics, Inc. (NASDAQ:AAOI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, October 17th.
According to Zacks, “Applied Optoelectronics, Inc. designs, develops and manufactures advanced optical devices, packaged optical components, optical subsystems, laser transmitters and fiber optic transceivers. The company’s products are used in fiber optic communications equipment for FTTH, point-to-point telecom, datacom and access networks and systems supporting cable television, network infrastructure. Applied Optoelectronics, Inc. is headquartered in Sugar Land, Texas. “
Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Vetr downgraded 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 research report on Monday, August 7th. Cowen and Company reiterated an “outperform” rating and set a $81.00 price target (down previously from $102.00) on shares of Applied Optoelectronics in a research report on Friday, October 13th. Roth Capital upped their target price on shares of Applied Optoelectronics from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Finally, Needham & Company LLC upped their target price on shares of Applied Optoelectronics from $100.00 to $115.00 and gave the company a “strong-buy” rating in a research report on Monday, July 24th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and four have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $70.42.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded down 1.29% during mid-day trading on Tuesday, hitting $38.18. 1,053,661 shares of the stock were exchanged. The company has a 50-day moving average of $56.36 and a 200 day moving average of $63.43. Applied Optoelectronics has a one year low of $18.85 and a one year high of $103.41. The stock has a market cap of $736.99 million, a PE ratio of 9.07 and a beta of 3.06.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results 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 business had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The firm’s quarterly revenue was up 112.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. On average, equities analysts predict that Applied Optoelectronics will post $4.62 earnings per share for the current year.
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In related news, Director Richard B. Black sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $60.62, for a total transaction of $60,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chewei Lin sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $58.00, for a total value of $406,000.00. Following the transaction, the director now directly owns 45,638 shares of the company’s stock, valued at approximately $2,647,004. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,517 shares of company stock valued at $923,370. 8.19% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Applied Optoelectronics by 86.8% during the 2nd quarter. BlackRock Inc. now owns 2,093,297 shares of the semiconductor company’s stock worth $129,346,000 after acquiring an additional 972,428 shares during the last quarter. Vanguard Group Inc. boosted its position in Applied Optoelectronics by 49.8% during the 2nd quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock worth $58,917,000 after acquiring an additional 317,033 shares during the last quarter. FMR LLC acquired a new position in Applied Optoelectronics during the 2nd quarter worth approximately $45,101,000. Balyasny Asset Management LLC acquired a new position in Applied Optoelectronics during the 2nd quarter worth approximately $44,798,000. Finally, Morgan Stanley boosted its position in Applied Optoelectronics by 245.9% during the 1st quarter. Morgan Stanley now owns 521,051 shares of the semiconductor company’s stock worth $29,257,000 after acquiring an additional 370,427 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.
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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