Northland Securities set a $40.00 price objective on Applied Optoelectronics, Inc. (NASDAQ:AAOI) in a report published on Sunday, October 15th. The firm currently has a sell rating on the semiconductor company’s stock.
Several other research firms also recently commented on AAOI. BWS Financial set a $25.00 price target on shares of Applied Optoelectronics and gave the stock a sell rating in a research note on Sunday, October 15th. BidaskClub upgraded shares of Applied Optoelectronics from a buy rating to a strong-buy rating in a research note on Monday, July 31st. Vetr cut shares of Applied Optoelectronics from a strong-buy rating to a buy rating and set a $84.73 price objective for the company. in a research report on Friday, July 14th. ValuEngine raised shares of Applied Optoelectronics from a buy rating to a strong-buy rating in a research report on Friday, August 4th. Finally, Needham & Company LLC reaffirmed a strong-buy rating and set a $85.00 price objective on shares of Applied Optoelectronics in a research report on Monday, June 26th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $70.42.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded down 1.29% during mid-day trading on Friday, hitting $38.18. 1,053,661 shares of the stock were exchanged. Applied Optoelectronics has a one year low of $18.85 and a one year high of $103.41. The company has a 50-day moving average of $56.36 and a 200 day moving average of $63.43. 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 posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.28. The business had revenue of $117.40 million during 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 company’s quarterly revenue was up 112.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 earnings per share. 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 Chewei Lin sold 7,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 45,638 shares of the company’s stock, valued at $2,647,004. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel David C. Kuo sold 889 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $70.00, for a total transaction of $62,230.00. Following the completion of the sale, the general counsel now directly owns 22,864 shares of the company’s stock, valued at $1,600,480. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,517 shares of company stock valued at $923,370. 8.19% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in AAOI. BlackRock Inc. lifted its position in Applied Optoelectronics by 86.8% in the second quarter. BlackRock Inc. now owns 2,093,297 shares of the semiconductor company’s stock valued at $129,346,000 after acquiring an additional 972,428 shares during the last quarter. FMR LLC purchased a new stake in Applied Optoelectronics in the second quarter valued at $45,101,000. Balyasny Asset Management LLC purchased a new stake in Applied Optoelectronics in the second quarter valued at $44,798,000. Whale Rock Capital Management LLC lifted its position in Applied Optoelectronics by 75.2% in the first quarter. Whale Rock Capital Management LLC now owns 1,155,356 shares of the semiconductor company’s stock valued at $64,873,000 after acquiring an additional 495,915 shares during the last quarter. Finally, State of Tennessee Treasury Department purchased a new stake in Applied Optoelectronics in the second quarter valued at $23,563,000. 80.96% of the stock is owned by hedge funds and other institutional investors.
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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