Zacks Investment Research Lowers Applied Optoelectronics (AAOI) to Strong Sell
Zacks Investment Research lowered shares of Applied Optoelectronics (NASDAQ:AAOI) from a hold rating to a strong sell rating in a research report report published on Wednesday morning.
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. “
Other analysts have also recently issued research reports about the company. DA Davidson reaffirmed a buy rating and set a $69.00 target price on shares of Applied Optoelectronics in a research report on Wednesday, November 8th. ValuEngine cut Applied Optoelectronics from a strong-buy rating to a buy rating in a research report on Friday, February 2nd. Piper Jaffray Companies reaffirmed a buy rating and set a $51.00 target price on shares of Applied Optoelectronics in a research report on Friday, November 10th. Cowen reaffirmed a buy rating and set a $60.00 target price (down previously from $74.00) on shares of Applied Optoelectronics in a research report on Thursday, December 7th. Finally, TheStreet cut Applied Optoelectronics from a b- rating to a c rating in a research report on Wednesday, November 15th. Six research analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $48.03.
In other news, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $35.37, for a total value of $35,370.00. Following the completion of the sale, the director now owns 34,478 shares of the company’s stock, valued at approximately $1,219,486.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.19% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC acquired a new stake in shares of Applied Optoelectronics in the 4th quarter worth $326,000. Municipal Employees Retirement System of Michigan lifted its position in Applied Optoelectronics by 27.6% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 9,280 shares of the semiconductor company’s stock worth $351,000 after acquiring an additional 2,010 shares during the period. Marble Arch Investments LP lifted its position in Applied Optoelectronics by 104.8% during the 4th quarter. Marble Arch Investments LP now owns 360,000 shares of the semiconductor company’s stock worth $13,615,000 after acquiring an additional 184,200 shares during the period. Guggenheim Capital LLC lifted its position in Applied Optoelectronics by 456.2% during the 4th quarter. Guggenheim Capital LLC now owns 153,515 shares of the semiconductor company’s stock worth $5,805,000 after acquiring an additional 125,915 shares during the period. Finally, Deutsche Bank AG lifted its position in Applied Optoelectronics by 160.9% during the 4th quarter. Deutsche Bank AG now owns 46,220 shares of the semiconductor company’s stock worth $1,746,000 after acquiring an additional 28,503 shares during the period. 71.70% of the stock is owned by hedge funds and other institutional investors.
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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