Applied Optoelectronics, Inc. (NASDAQ:AAOI)‘s stock had its “strong-buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday. They presently have a $75.00 target price on the semiconductor company’s stock, down from their previous target price of $115.00. Needham & Company LLC’s price target points to a potential upside of 27.46% from the stock’s current price.
A number of other equities analysts also recently issued reports on AAOI. Roth Capital restated a “buy” rating and issued a $90.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 10th. Cowen and Company restated an “outperform” rating and issued a $102.00 price target (up from $100.00) on shares of Applied Optoelectronics in a research note on Wednesday, August 9th. Vetr downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 price target on the stock. in a research note on Monday, August 7th. Northland Securities downgraded Applied Optoelectronics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $47.00 to $43.00 in a research note on Friday, August 4th. Finally, Craig Hallum restated a “buy” rating and issued a $80.00 price target (down from $95.00) on shares of Applied Optoelectronics in a research note on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $71.20.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.28. The firm had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The company’s revenue for the quarter was up 112.3% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS.
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In related news, CFO Stefan J. Murry sold 3,050 shares of Applied Optoelectronics stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $70.21, for a total transaction of $214,140.50. Following the transaction, the chief financial officer now directly owns 57,540 shares in the company, valued at $4,039,883.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David C. Kuo sold 578 shares of Applied Optoelectronics stock in a transaction on Monday, July 31st. The shares were sold at an average price of $96.47, for a total value of $55,759.66. Following the transaction, the general counsel now owns 23,753 shares in the company, valued at $2,291,451.91. The disclosure for this sale can be found here. Insiders have sold 34,633 shares of company stock worth $2,818,825 over the last quarter. 8.19% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC purchased a new position in Applied Optoelectronics during the second quarter valued at $115,000. Citigroup Inc. raised its holdings in Applied Optoelectronics by 96.2% during the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 993 shares during the period. Advisory Services Network LLC bought a new stake in Applied Optoelectronics during the second quarter valued at about $137,000. Pinebridge Investments L.P. bought a new stake in Applied Optoelectronics during the second quarter valued at about $144,000. Finally, PNC Financial Services Group Inc. bought a new stake in Applied Optoelectronics during the second quarter valued at about $149,000. Institutional investors own 81.59% of the company’s stock.
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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