Shares of Applied Optoelectronics Inc (NASDAQ:AAOI) shot up 6.2% during mid-day trading on Tuesday . The company traded as high as $42.75 and last traded at $42.75. 597,550 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,419,517 shares. The stock had previously closed at $40.25.
A number of brokerages recently issued reports on AAOI. BidaskClub downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Rosenblatt Securities began coverage on Applied Optoelectronics in a research report on Monday, June 11th. They issued a “sell” rating and a $30.00 price target for the company. ValuEngine upgraded Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Saturday, May 26th. Finally, Zacks Investment Research downgraded Applied Optoelectronics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Five analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $46.53.
The stock has a market capitalization of $856.58 million, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 2.30 and a beta of 2.71. The company has a quick ratio of 2.14, a current ratio of 3.46 and a debt-to-equity ratio of 0.18.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings data on Tuesday, May 8th. The semiconductor company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.05). The firm had revenue of $65.20 million during the quarter, compared to the consensus estimate of $68.94 million. Applied Optoelectronics had a net margin of 16.02% and a return on equity of 20.82%. The business’s revenue was down 32.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. equities analysts expect that Applied Optoelectronics Inc will post 1.68 EPS for the current fiscal year.
In related news, CFO Stefan J. Murry sold 3,000 shares of Applied Optoelectronics stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $44.25, for a total value of $132,750.00. Following the completion of the sale, the chief financial officer now directly owns 67,695 shares in the company, valued at $2,995,503.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Royce & Associates LP purchased a new position in Applied Optoelectronics in the fourth quarter valued at about $1,467,000. OppenheimerFunds Inc. grew its stake in 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 purchasing an additional 2,161 shares during the last quarter. BlackRock Inc. grew its stake in Applied Optoelectronics by 1.8% in the fourth quarter. BlackRock Inc. now owns 2,337,680 shares of the semiconductor company’s stock valued at $88,411,000 after purchasing an additional 41,243 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in Applied Optoelectronics in the fourth quarter valued at about $134,000. Finally, California Public Employees Retirement System grew its stake in shares of Applied Optoelectronics by 6.7% during the fourth quarter. California Public Employees Retirement System now owns 54,234 shares of the semiconductor company’s stock worth $2,051,000 after acquiring an additional 3,427 shares during the last quarter. Institutional investors own 68.13% of the company’s stock.
Applied Optoelectronics Company Profile
Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.
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