Applied Optoelectronics (NASDAQ:AAOI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
AAOI has been the subject of several other reports. Raymond James Financial restated a “strong-buy” rating on shares of Applied Optoelectronics in a research note on Thursday, August 31st. BWS Financial restated a “sell” rating on shares of Applied Optoelectronics in a research note on Monday, October 2nd. Needham & Company LLC restated a “strong-buy” rating and issued a $75.00 target price (down from $115.00) on shares of Applied Optoelectronics in a research note on Thursday, October 12th. ValuEngine upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 14th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $51.00 price target on shares of Applied Optoelectronics in a report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and four have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $60.20.
Shares of Applied Optoelectronics (AAOI) traded down $0.37 during mid-day trading on Wednesday, hitting $40.15. 885,100 shares of the stock traded hands, compared to its average volume of 2,561,532. The stock has a market capitalization of $785.37, a P/E ratio of 9.62, a PEG ratio of 0.62 and a beta of 2.88. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. Applied Optoelectronics has a fifty-two week low of $21.88 and a fifty-two week high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.23). The firm had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $88.53 million. Applied Optoelectronics had a net margin of 21.29% and a return on equity of 32.35%. Applied Optoelectronics’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. research analysts forecast that Applied Optoelectronics will post 4.22 EPS for the current fiscal year.
In other Applied Optoelectronics news, Director Richard B. Black sold 1,000 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $43.00, for a total transaction of $43,000.00. Following the sale, the director now directly owns 36,478 shares of the company’s stock, valued at $1,568,554. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan D. Moore bought 22,400 shares of the company’s stock in a transaction on Monday, November 13th. The shares were acquired at an average cost of $44.60 per share, for a total transaction of $999,040.00. The disclosure for this purchase can be found here. Insiders sold 7,900 shares of company stock worth $365,804 over the last ninety days. 8.19% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of AAOI. Flinton Capital Management LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter worth $115,000. Citigroup Inc. raised its holdings 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 during the period. Advisory Services Network LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter worth $137,000. Pinebridge Investments L.P. acquired a new stake in shares of Applied Optoelectronics during the second quarter worth $144,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Applied Optoelectronics during the second quarter worth $149,000. 76.69% of the stock is currently owned by institutional investors.
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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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