Applied Optoelectronics Inc. (AAOI) Rating Reiterated by Piper Jaffray Cos.
Applied Optoelectronics Inc. (NASDAQ:AAOI)‘s stock had its “overweight” rating reissued by analysts at Piper Jaffray Cos. in a research note issued to investors on Friday. They presently have a $27.00 price objective on the stock, up from their prior price objective of $24.00. Piper Jaffray Cos.’s price objective would indicate a potential upside of 16.63% from the stock’s previous close.
Several other research firms have also issued reports on AAOI. Zacks Investment Research upgraded Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. TheStreet upgraded Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Friday, August 19th. Roth Capital restated a “buy” rating on shares of Applied Optoelectronics in a research report on Tuesday, August 2nd. Finally, Craig Hallum raised their price target on Applied Optoelectronics from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, August 25th. Seven investment analysts have rated the stock with a buy rating, Applied Optoelectronics currently has a consensus rating of “Buy” and an average target price of $24.00.
Applied Optoelectronics (NASDAQ:AAOI) opened at 23.15 on Friday. The firm has a market capitalization of $396.79 million, a price-to-earnings ratio of 85.42 and a beta of 2.27. The stock’s 50 day moving average price is $19.74 and its 200-day moving average price is $13.84. Applied Optoelectronics has a 12 month low of $8.08 and a 12 month high of $24.18.
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 consensus estimate of $0.06 by $0.10. Applied Optoelectronics had a return on equity of 6.01% and a net margin of 2.16%. The business had revenue of $55.30 million for the quarter, compared to analyst estimates of $50.84 million. During the same period last year, the company earned $0.38 EPS. Applied Optoelectronics’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts anticipate that Applied Optoelectronics will post $0.71 EPS for the current fiscal year.
In other news, CFO Stefan J. Murry sold 3,660 shares of Applied Optoelectronics stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $19.05, for a total value of $69,723.00. Following the sale, the chief financial officer now directly owns 35,093 shares in the company, valued at approximately $668,521.65. The sale was disclosed in a filing with the SEC, which is available through this link. 8.19% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its stake in Applied Optoelectronics by 2,192.5% in the second quarter. Royce & Associates LP now owns 458,500 shares of the company’s stock valued at $5,112,000 after buying an additional 438,500 shares in the last quarter. Wellington Management Group LLP raised its stake in Applied Optoelectronics by 19.1% in the first quarter. Wellington Management Group LLP now owns 1,821,316 shares of the company’s stock valued at $27,155,000 after buying an additional 291,994 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in Applied Optoelectronics during the second quarter valued at $3,192,000. S Squared Technology LLC purchased a new stake in Applied Optoelectronics during the second quarter valued at $1,967,000. Finally, Signia Capital Management LLC purchased a new stake in Applied Optoelectronics during the second quarter valued at $1,664,000. Institutional investors own 78.60% of the company’s stock.
About Applied Optoelectronics
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products. The Company offers its products for approximately three networking end markets, such as Internet data center; cable television (CATV), and fiber-to-the-home (FTTH). 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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