Applied Optoelectronics, Inc. (NASDAQ:AAOI) Lowered to Buy at Vetr Inc.

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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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