Cowen reissued their buy rating on shares of Applied Optoelectronics (NASDAQ:AAOI) in a research note published on Thursday morning. The firm currently has a $60.00 price target on the semiconductor company’s stock, down from their previous price target of $74.00.
Several other equities analysts also recently commented on AAOI. Roth Capital reissued a buy rating and set a $90.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 10th. Northland Securities set a $40.00 target price on shares of Applied Optoelectronics and gave the stock a sell rating in a research report on Sunday, October 15th. BWS Financial set a $25.00 target price on shares of Applied Optoelectronics and gave the stock a sell rating in a research report on Wednesday, August 16th. BidaskClub downgraded shares of Applied Optoelectronics from a strong-buy rating to a buy rating in a research report on Wednesday, August 23rd. Finally, Vetr raised shares of Applied Optoelectronics from a buy rating to a strong-buy rating and set a $76.81 target price on the stock in a research report on Wednesday, August 9th. Five analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and four have issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $60.20.
Applied Optoelectronics (AAOI) traded up $0.81 on Thursday, hitting $39.50. The stock had a trading volume of 113,976 shares, compared to its average volume of 2,575,189. The stock has a market capitalization of $749.90, a price-to-earnings ratio of 9.19, a P/E/G ratio of 0.59 and a beta of 2.88. Applied Optoelectronics has a one year low of $21.88 and a one year high of $103.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 2.02.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.23). The firm had revenue of $88.90 million for the quarter, compared to analysts’ expectations of $88.53 million. Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. Applied Optoelectronics’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share. equities analysts expect that Applied Optoelectronics will post 4.22 earnings per share for the current year.
In other Applied Optoelectronics news, CEO Chih-Hsiang (Thompson) Lin sold 1,300 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $45.30, for a total transaction of $58,890.00. Following the completion of the transaction, the chief executive officer now owns 522,837 shares in the company, valued at $23,684,516.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $43.00, for a total transaction of $43,000.00. Following the transaction, the director now owns 36,478 shares of the company’s stock, valued at approximately $1,568,554. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,900 shares of company stock valued at $325,374. 8.19% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Flinton Capital Management LLC bought a new position in Applied Optoelectronics during the second quarter worth about $115,000. Citigroup Inc. lifted its stake in Applied Optoelectronics by 96.2% during the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 993 shares during the period. Advisory Services Network LLC bought a new position in Applied Optoelectronics during the second quarter worth about $137,000. Pinebridge Investments L.P. bought a new position in shares of Applied Optoelectronics in the second quarter valued at approximately $144,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Applied Optoelectronics in the second quarter valued at approximately $149,000. Hedge funds and other institutional investors own 76.69% of the company’s stock.
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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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