TheStreet Lowers Applied Optoelectronics, Inc. (AAOI) to C
A number of other analysts also recently issued reports on AAOI. ValuEngine upgraded shares of Applied Optoelectronics from a buy rating to a strong-buy rating in a report on Tuesday. Roth Capital reissued a buy rating and issued a $90.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 10th. Cowen and Company reissued an outperform rating and issued a $102.00 price objective (up from $100.00) on shares of Applied Optoelectronics in a research note on Wednesday, August 9th. Piper Jaffray Companies reissued a buy rating and issued a $51.00 price objective on shares of Applied Optoelectronics in a research note on Friday, November 10th. Finally, Needham & Company LLC dropped their price objective on shares of Applied Optoelectronics from $75.00 to $50.00 and set a strong-buy rating for the company in a research note on Wednesday, November 8th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company. Applied Optoelectronics presently has an average rating of Buy and an average price target of $62.53.
Shares of Applied Optoelectronics (NASDAQ AAOI) opened at $45.04 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The stock has a market cap of $868.32, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 0.62 and a beta of 2.90. 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 quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.23). The company had revenue of $88.90 million during the quarter, compared to the consensus estimate of $88.53 million. Applied Optoelectronics had a net margin of 21.29% and a return on equity of 32.35%. The business’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. equities research analysts predict that Applied Optoelectronics will post 4.2 earnings per share for the current year.
In related news, Director Richard B. Black sold 1,000 shares of Applied Optoelectronics stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $43.00, for a total transaction of $43,000.00. Following the completion of the transaction, the director now directly owns 36,478 shares of the company’s stock, valued at approximately $1,568,554. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan D. Moore purchased 22,400 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average cost of $44.60 per share, with a total value of $999,040.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 10,000 shares of company stock valued at $568,140. 8.19% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Flinton Capital Management LLC purchased a new stake in Applied Optoelectronics in the 2nd quarter valued at about $115,000. Citigroup Inc. boosted its position in Applied Optoelectronics by 96.2% in the 2nd quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 993 shares during the period. Advisory Services Network LLC purchased a new stake in Applied Optoelectronics in the 2nd quarter valued at about $137,000. Pinebridge Investments L.P. purchased a new stake in Applied Optoelectronics in the 2nd quarter valued at about $144,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Applied Optoelectronics in the 2nd quarter valued at about $149,000. 83.33% of the stock is owned by institutional investors.
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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