Applied Optoelectronics (NASDAQ:AAOI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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 also recently issued reports about the stock. ValuEngine upgraded shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Needham & Company LLC downgraded shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Raymond James downgraded shares of Applied Optoelectronics from an “outperform” rating to a “market perform” rating in a report on Friday, February 22nd. DA Davidson downgraded shares of Applied Optoelectronics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $16.00 in a report on Friday, February 22nd. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $12.00 target price on shares of Applied Optoelectronics in a report on Friday, February 22nd. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.60.

AAOI stock traded down $0.25 during mid-day trading on Thursday, hitting $13.83. The company had a trading volume of 21,451 shares, compared to its average volume of 1,478,095. The stock has a market cap of $280.71 million, a P/E ratio of 26.09 and a beta of 2.01. Applied Optoelectronics has a 12-month low of $12.85 and a 12-month high of $50.30. The company has a quick ratio of 1.30, a current ratio of 2.51 and a debt-to-equity ratio of 0.18.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, February 21st. The semiconductor company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $58.02 million for the quarter, compared to analysts’ expectations of $60.78 million. Applied Optoelectronics had a negative net margin of 0.80% and a positive return on equity of 3.06%. On average, analysts anticipate that Applied Optoelectronics will post -0.76 EPS for the current fiscal year.

In related news, CFO Stefan J. Murry sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $15.40, for a total transaction of $30,800.00. Following the transaction, the chief financial officer now directly owns 64,520 shares in the company, valued at approximately $993,608. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 4,000 shares of company stock worth $63,220 over the last quarter. 6.90% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of AAOI. BlackRock Inc. grew its stake in Applied Optoelectronics by 0.8% in the 4th quarter. BlackRock Inc. now owns 2,823,899 shares of the semiconductor company’s stock worth $43,573,000 after acquiring an additional 22,134 shares in the last quarter. Vanguard Group Inc. grew its position in Applied Optoelectronics by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,170,718 shares of the semiconductor company’s stock valued at $28,870,000 after buying an additional 63,087 shares during the period. Vanguard Group Inc grew its position in Applied Optoelectronics by 5.7% during the third quarter. Vanguard Group Inc now owns 1,170,718 shares of the semiconductor company’s stock valued at $28,870,000 after buying an additional 63,087 shares during the period. Investment Counselors of Maryland LLC grew its position in Applied Optoelectronics by 2.2% during the fourth quarter. Investment Counselors of Maryland LLC now owns 449,510 shares of the semiconductor company’s stock valued at $6,936,000 after buying an additional 9,529 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Applied Optoelectronics by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 322,712 shares of the semiconductor company’s stock valued at $7,959,000 after buying an additional 5,559 shares during the period. Institutional investors own 60.16% of the company’s stock.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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