Applied Optoelectronics Inc (NASDAQ:AAOI)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $31.90, but opened at $30.95. Applied Optoelectronics shares last traded at $29.24, with a volume of 1150434 shares.
A number of equities analysts have recently issued reports on AAOI shares. Zacks Investment Research lowered shares of Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 2nd. Cowen restated a “buy” rating and set a $60.00 target price (down from $74.00) on shares of Applied Optoelectronics in a research report on Thursday, December 7th. DA Davidson set a $55.00 target price on shares of Applied Optoelectronics and gave the stock a “buy” rating in a research report on Tuesday, March 6th. Loop Capital assumed coverage on shares of Applied Optoelectronics in a research report on Monday, January 29th. They issued a “hold” rating and a $35.00 price objective on the stock. Finally, BidaskClub lowered shares of Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 9th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Applied Optoelectronics currently has an average rating of “Hold” and an average target price of $48.03.
The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.18 and a current ratio of 3.25. The firm has a market capitalization of $567.86, a PE ratio of 8.54, a price-to-earnings-growth ratio of 1.15 and a beta of 2.58.
In related news, Director Richard B. Black sold 1,000 shares of Applied Optoelectronics 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 transaction, the director now directly owns 34,478 shares in the company, valued at approximately $1,219,486.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.19% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AAOI. Resources Investment Advisors Inc. lifted its holdings in Applied Optoelectronics by 218.5% in the fourth quarter. Resources Investment Advisors Inc. now owns 2,796 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 1,918 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in Applied Optoelectronics in the fourth quarter valued at $113,000. Financial Gravity Companies Inc. acquired a new stake in Applied Optoelectronics in the fourth quarter valued at $134,000. Krilogy Financial LLC acquired a new stake in Applied Optoelectronics in the third quarter valued at $170,000. Finally, Commonwealth Equity Services Inc acquired a new stake in Applied Optoelectronics in the third quarter valued at $226,000. 61.76% of the stock is owned by institutional investors.
WARNING: This piece was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.dispatchtribunal.com/2018/03/15/applied-optoelectronics-aaoi-shares-gap-up-to-30-95.html.
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.
Receive News & Ratings for Applied Optoelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics and related companies with MarketBeat.com's FREE daily email newsletter.