Applied Optoelectronics Inc. (AAOI) Trading 2.5% Higher
Applied Optoelectronics Inc. (NASDAQ:AAOI) shares traded up 2.5% on Friday . The stock traded as high as $13.74 and last traded at $13.67, with a volume of 220,027 shares trading hands. The stock had previously closed at $13.34.
Several research analysts recently weighed in on the company. Cowen and Company reissued a “buy” rating on shares of Applied Optoelectronics in a research report on Tuesday, May 10th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $14.00 target price (down from $21.00) on shares of Applied Optoelectronics in a research report on Tuesday, May 10th. Roth Capital reaffirmed a “buy” rating on shares of Applied Optoelectronics in a research report on Tuesday, August 2nd. Finally, Zacks Investment Research raised Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Applied Optoelectronics has a consensus rating of “Buy” and a consensus price target of $19.75.
The firm has a 50-day moving average of $12.43 and a 200 day moving average of $13.10. The stock has a market cap of $235.50 million and a P/E ratio of 50.70.
Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.10. The company earned $55.30 million during the quarter, compared to the consensus estimate of $50.84 million. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, equities research analysts anticipate that Applied Optoelectronics Inc. will post $0.58 earnings per share for the current year.
In related news, Director Alan D. Moore purchased 105,000 shares of Applied Optoelectronics stock in a transaction dated Thursday, June 16th. The shares were acquired at an average cost of $10.08 per share, for a total transaction of $1,058,400.00. Following the transaction, the director now directly owns 222,542 shares of the company’s stock, valued at $2,243,223.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Min-Chu (Mike) Chen purchased 10,000 shares of Applied Optoelectronics stock in a transaction dated Friday, May 27th. The stock was bought at an average price of $9.98 per share, for a total transaction of $99,800.00. Following the completion of the transaction, the director now directly owns 13,262 shares in the company, valued at $132,354.76. The disclosure for this purchase can be found here.
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for three networking end-markets: Internet data center, cable television (CATV) and fiber-to-the-home (FTTH). The Company designs and manufactures optical communications products at varying levels of integration, from components, subassemblies and modules to turn-key equipment.
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