Piper Jaffray Companies reiterated their buy rating on shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) in a research note released on Friday. Piper Jaffray Companies currently has a $51.00 target price on the semiconductor company’s stock.
A number of other research firms also recently weighed in 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. Zacks Investment Research cut shares of Applied Optoelectronics from a hold rating to a strong sell rating in a report on Tuesday, October 17th. BidaskClub upgraded shares of Applied Optoelectronics from a buy rating to a strong-buy rating in a report 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 report on Friday, July 14th. Finally, Needham & Company LLC decreased their price objective on shares of Applied Optoelectronics from $75.00 to $50.00 and set a strong-buy rating for the company in a report on Wednesday. Four research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $62.53.
Shares of Applied Optoelectronics (NASDAQ AAOI) traded up $2.10 during midday trading on Friday, hitting $45.30. 2,969,900 shares of the company’s stock were exchanged, compared to its average volume of 2,683,257. Applied Optoelectronics has a one year low of $21.88 and a one year high of $103.41. The company has a market capitalization of $837.31, a P/E ratio of 10.26, a PEG ratio of 0.59 and a beta of 2.90. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.07 and a current ratio of 2.99.
Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.23). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The company had revenue of $88.90 million during the quarter, compared to the consensus estimate of $88.53 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. research analysts expect that Applied Optoelectronics will post 4.28 earnings per share for the current year.
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In other Applied Optoelectronics news, CFO Stefan J. Murry sold 3,050 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $70.21, for a total transaction of $214,140.50. Following the sale, the chief financial officer now directly owns 57,540 shares of the company’s stock, valued at $4,039,883.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard B. Black sold 1,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $58.52, for a total transaction of $58,520.00. Following the sale, the director now directly owns 38,478 shares in the company, valued at $2,251,732.56. The disclosure for this sale can be found here. Insiders have sold 12,050 shares of company stock worth $739,281 over the last ninety days. Insiders own 8.19% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of Applied Optoelectronics by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,937 shares of the semiconductor company’s stock valued at $614,000 after acquiring an additional 26 shares in the last quarter. Legal & General Group Plc grew its stake in Applied Optoelectronics by 3.6% during the first quarter. Legal & General Group Plc now owns 4,412 shares of the semiconductor company’s stock worth $248,000 after buying an additional 153 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its stake in Applied Optoelectronics by 7.9% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,100 shares of the semiconductor company’s stock worth $253,000 after buying an additional 300 shares in the last quarter. Nationwide Fund Advisors grew its stake in Applied Optoelectronics by 3.2% during the second quarter. Nationwide Fund Advisors now owns 10,909 shares of the semiconductor company’s stock worth $674,000 after buying an additional 343 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC grew its stake in Applied Optoelectronics by 4.3% during the second quarter. Carnegie Capital Asset Management LLC now owns 8,920 shares of the semiconductor company’s stock worth $834,000 after buying an additional 370 shares in the last quarter. 80.05% of the stock is currently owned by 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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