Shares of Applied Optoelectronics Inc (NASDAQ:AAOI) have been given an average rating of “Hold” by the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and four have given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $55.53.
AAOI has been the topic of several research reports. Zacks Investment Research downgraded shares of Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 2nd. BWS Financial reissued a “sell” rating on shares of Applied Optoelectronics in a research report on Monday, October 2nd. Needham & Company LLC reissued a “strong-buy” rating and set a $75.00 price objective (down from $115.00) on shares of Applied Optoelectronics in a research report on Thursday, October 12th. ValuEngine raised shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. Finally, Cowen reissued a “buy” rating and set a $60.00 price objective (down from $74.00) on shares of Applied Optoelectronics in a research report on Thursday, December 7th.
In other news, Director Alan D. Moore bought 22,400 shares of Applied Optoelectronics stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $44.60 per share, for a total transaction of $999,040.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $40.43, for a total transaction of $40,430.00. Following the completion of the sale, the director now owns 35,478 shares of the company’s stock, valued at approximately $1,434,375.54. The disclosure for this sale can be found here. Insiders sold a total of 6,900 shares of company stock valued at $305,184 in the last 90 days. Company insiders own 8.19% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of 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 purchasing an additional 972,428 shares during the period. FMR LLC acquired a new stake in shares of Applied Optoelectronics in the second quarter valued at about $45,101,000. Balyasny Asset Management LLC acquired a new stake in shares of Applied Optoelectronics in the second quarter valued at about $44,798,000. State of Tennessee Treasury Department lifted its stake in shares of Applied Optoelectronics by 113.9% in the third quarter. State of Tennessee Treasury Department now owns 815,552 shares of the semiconductor company’s stock valued at $52,742,000 after purchasing an additional 434,207 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Applied Optoelectronics by 49.8% in the second quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock valued at $58,917,000 after purchasing an additional 317,033 shares during the period. Institutional investors own 76.67% of the company’s stock.
Shares of Applied Optoelectronics (NASDAQ AAOI) traded down $0.09 during trading on Tuesday, reaching $35.85. 836,100 shares of the company’s stock traded hands, compared to its average volume of 1,180,000. Applied Optoelectronics has a 52 week low of $26.11 and a 52 week 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. The stock has a market cap of $695.43, a P/E ratio of 8.56, a P/E/G ratio of 0.75 and a beta of 2.88.
Applied Optoelectronics (NASDAQ:AAOI) last issued 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). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The business had revenue of $88.90 million for the quarter, compared to analysts’ expectations of $88.53 million. During the same period in the previous year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. sell-side analysts anticipate that Applied Optoelectronics will post 4.22 earnings per share for the current year.
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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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