Applied Optoelectronics (AAOI) Shares Down 5.1% After Analyst Downgrade

Applied Optoelectronics Inc (NASDAQ:AAOI)’s share price was down 5.1% during mid-day trading on Monday after B. Riley lowered their price target on the stock from $24.00 to $22.00. B. Riley currently has a neutral rating on the stock. Applied Optoelectronics traded as low as $18.41 and last traded at $19.44. Approximately 1,678,394 shares traded hands during mid-day trading, an increase of 24% from the average daily volume of 1,357,951 shares. The stock had previously closed at $20.49.

Several other equities analysts have also recently issued reports on AAOI. Rosenblatt Securities reiterated a “sell” rating and issued a $30.00 price objective on shares of Applied Optoelectronics in a research note on Wednesday, July 11th. BidaskClub cut Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 20th. Piper Jaffray Companies reiterated a “hold” rating and issued a $43.00 price objective on shares of Applied Optoelectronics in a research note on Wednesday, August 8th. Loop Capital reiterated a “hold” rating and issued a $45.00 price objective on shares of Applied Optoelectronics in a research note on Wednesday, August 8th. Finally, Needham & Company LLC cut Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Applied Optoelectronics currently has a consensus rating of “Hold” and an average price target of $29.89.

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Applied Optoelectronics by 6.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 50,685 shares of the semiconductor company’s stock worth $2,276,000 after purchasing an additional 3,069 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Applied Optoelectronics by 4.4% during the first quarter. Principal Financial Group Inc. now owns 186,911 shares of the semiconductor company’s stock worth $4,684,000 after purchasing an additional 7,875 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Applied Optoelectronics by 11.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 100,798 shares of the semiconductor company’s stock worth $4,526,000 after purchasing an additional 10,481 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Applied Optoelectronics by 17.9% during the second quarter. Dimensional Fund Advisors LP now owns 359,689 shares of the semiconductor company’s stock worth $16,150,000 after purchasing an additional 54,595 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Applied Optoelectronics during the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 71.64% of the company’s stock.

The company has a market capitalization of $403.61 million, a price-to-earnings ratio of 4.60, a P/E/G ratio of 1.83 and a beta of 2.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.22 and a quick ratio of 1.92.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Tuesday, August 7th. The semiconductor company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.30. The firm had revenue of $87.82 million during the quarter, compared to analysts’ expectations of $77.29 million. Applied Optoelectronics had a return on equity of 14.77% and a net margin of 10.95%. As a group, analysts forecast that Applied Optoelectronics Inc will post 0.75 earnings per share for the current fiscal year.

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Applied Optoelectronics Company Profile (NASDAQ:AAOI)

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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