Zacks Investment Research cut shares of Applied Optoelectronics (NASDAQ:AAOI) from a hold rating to a sell rating in a report issued on Monday.
According to Zacks, “Applied Optoelectronics, Inc. designs, develops and manufactures advanced optical devices, packaged optical components, optical subsystems, laser transmitters and fiber optic transceivers. The company’s products are used in fiber optic communications equipment for FTTH, point-to-point telecom, datacom and access networks and systems supporting cable television, network infrastructure. Applied Optoelectronics, Inc. is headquartered in Sugar Land, Texas. “
Other analysts have also recently issued reports about the company. DA Davidson restated a buy rating and issued a $69.00 price target on shares of Applied Optoelectronics in a research note on Wednesday, November 8th. ValuEngine cut Applied Optoelectronics from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. Piper Jaffray Companies restated a buy rating and issued a $51.00 price target on shares of Applied Optoelectronics in a research note on Friday, November 10th. Cowen restated a buy rating and issued a $60.00 price target (down from $74.00) on shares of Applied Optoelectronics in a research note on Thursday, December 7th. Finally, TheStreet cut Applied Optoelectronics from a b- rating to a c rating in a research note on Wednesday, November 15th. Five analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Applied Optoelectronics has an average rating of Hold and an average target price of $51.53.
Shares of Applied Optoelectronics (NASDAQ AAOI) opened at $31.99 on Monday. Applied Optoelectronics has a 52 week low of $28.56 and a 52 week high of $103.41. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $620.04, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 0.65 and a beta of 2.51.
In other news, Director Richard B. Black sold 1,000 shares of Applied Optoelectronics stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $35.37, for a total transaction of $35,370.00. Following the sale, 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 can be accessed through the SEC website. 8.19% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Resources Investment Advisors Inc. increased its position in shares of Applied Optoelectronics by 218.5% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,796 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 1,918 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $113,000. Citigroup Inc. increased its position in shares of 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 in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $134,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter worth about $137,000. Institutional investors and hedge funds own 71.70% 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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