Vetr downgraded shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) from a strong-buy rating to a buy rating in a report released on Monday, August 7th. They currently have $72.50 price target on the semiconductor company’s stock.
Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded Applied Optoelectronics from a hold rating to a buy rating in a research note on Wednesday, July 12th. Roth Capital raised their target price on Applied Optoelectronics from $70.00 to $90.00 and gave the company a buy rating in a research note on Thursday, July 13th. Cowen and Company reiterated an outperform rating and issued a $100.00 target price (up from $94.00) on shares of Applied Optoelectronics in a research note on Friday, July 14th. Needham & Company LLC raised their target price on Applied Optoelectronics from $100.00 to $115.00 and gave the company a strong-buy rating in a research note on Monday, July 24th. Finally, Northland Securities set a $47.00 price objective on shares of Applied Optoelectronics and gave the company a sell rating in a research note on Monday, August 7th. Three research analysts have rated the stock with a sell rating, six have issued a buy rating and six have assigned a strong buy rating to the stock. Applied Optoelectronics presently has an average rating of Buy and a consensus price target of $76.98.
Applied Optoelectronics (AAOI) opened at 64.10 on Monday. The firm has a market capitalization of $1.24 billion, a PE ratio of 15.23 and a beta of 2.98. The firm has a 50-day moving average of $78.28 and a 200 day moving average of $59.12. Applied Optoelectronics has a 52 week low of $13.34 and a 52 week high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.28. The company had revenue of $117.40 million for the quarter, compared to analysts’ expectations of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm’s quarterly revenue was up 112.3% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. Analysts predict that Applied Optoelectronics will post $5.38 earnings per share for the current year.
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In related news, CFO Stefan J. Murry sold 3,050 shares of Applied Optoelectronics stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $70.21, for a total transaction of $214,140.50. Following the transaction, the chief financial officer now directly owns 57,540 shares of the company’s stock, valued at $4,039,883.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel David C. Kuo sold 578 shares of Applied Optoelectronics stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $96.47, for a total value of $55,759.66. Following the transaction, the general counsel now directly owns 23,753 shares in the company, valued at $2,291,451.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,140 shares of company stock worth $5,894,795. 8.19% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new position in Applied Optoelectronics during the first quarter worth about $432,000. State Board of Administration of Florida Retirement System purchased a new position in Applied Optoelectronics during the first quarter worth about $296,000. 361 Capital LLC purchased a new position in Applied Optoelectronics during the first quarter worth about $208,000. Bourne Lent Asset Management Inc. purchased a new position in Applied Optoelectronics during the first quarter worth about $399,000. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new position in Applied Optoelectronics during the first quarter worth about $213,000. 79.40% of the stock is currently owned by hedge funds and other 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.
To view Vetr’s full report, visit Vetr’s official website.
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