Applied Optoelectronics (NASDAQ:AAOI) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Monday, February 5th.
A number of other research firms have also weighed in on AAOI. Needham & Company LLC reiterated a “strong-buy” rating and set a $75.00 price objective (down previously from $115.00) on shares of Applied Optoelectronics in a research note on Thursday, October 12th. Cowen restated an “outperform” rating and set a $81.00 target price (down from $102.00) on shares of Applied Optoelectronics in a research report on Friday, October 13th. Craig Hallum cut Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Piper Jaffray Companies reiterated a “buy” rating and issued a $63.00 price objective on shares of Applied Optoelectronics in a report on Friday, October 13th. Finally, Northland Securities set a $40.00 price objective on Applied Optoelectronics and gave the stock a “sell” rating in a report on Sunday, October 15th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $55.89.
Applied Optoelectronics (NASDAQ:AAOI) traded down $0.47 during trading on Monday, hitting $30.25. The stock had a trading volume of 1,520,000 shares, compared to its average volume of 1,230,000. The firm has a market cap of $586.31, a PE ratio of 7.22, a price-to-earnings-growth ratio of 0.61 and a beta of 2.51. 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 has a 52-week low of $28.97 and a 52-week high of $103.41.
In other Applied Optoelectronics news, Director Richard B. Black sold 1,000 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $35.37, for a total value of $35,370.00. Following the completion of the transaction, the director now owns 34,478 shares in the company, valued at $1,219,486.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chih-Hsiang (Thompson) Lin sold 3,600 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $45.24, for a total transaction of $162,864.00. Following the completion of the transaction, the insider now owns 522,837 shares of the company’s stock, valued at approximately $23,653,145.88. The disclosure for this sale can be found here. Insiders have sold 6,900 shares of company stock worth $297,554 in the last ninety days. Corporate insiders own 8.19% of the company’s stock.
Several large investors have recently made changes to their positions in the company. OppenheimerFunds Inc. raised its holdings in shares of Applied Optoelectronics by 51.1% in the fourth quarter. OppenheimerFunds Inc. now owns 6,394 shares of the semiconductor company’s stock valued at $242,000 after buying an additional 2,161 shares during the last quarter. State of Tennessee Treasury Department raised its holdings in shares of Applied Optoelectronics by 1.3% in the fourth quarter. State of Tennessee Treasury Department now owns 826,201 shares of the semiconductor company’s stock valued at $31,247,000 after buying an additional 10,649 shares during the last quarter. Royce & Associates LP purchased a new position in Applied Optoelectronics during the fourth quarter worth about $1,467,000. BlackRock Inc. raised its holdings in Applied Optoelectronics by 1.8% during the fourth quarter. BlackRock Inc. now owns 2,337,680 shares of the semiconductor company’s stock worth $88,411,000 after purchasing an additional 41,243 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Applied Optoelectronics by 9.7% during the fourth quarter. Bank of New York Mellon Corp now owns 253,846 shares of the semiconductor company’s stock worth $9,600,000 after purchasing an additional 22,537 shares in the last quarter. 74.26% of the stock is owned by institutional investors and hedge funds.
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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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