Applied Optoelectronics Inc. (AAOI) Upgraded to Buy at TheStreet
Applied Optoelectronics Inc. (NASDAQ:AAOI) was upgraded by research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Applied Optoelectronics from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Thursday, September 8th. Roth Capital reaffirmed a “buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, August 2nd. Finally, Craig Hallum upped their price target on Applied Optoelectronics from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Seven analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $21.83.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded up 0.89% during midday trading on Monday, reaching $21.63. 262,242 shares of the company’s stock were exchanged. The company’s 50-day moving average is $18.66 and its 200-day moving average is $13.65. The stock has a market cap of $370.74 million, a P/E ratio of 79.82 and a beta of 2.27. Applied Optoelectronics has a one year low of $8.08 and a one year high of $22.47.
Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.10. The company earned $55.30 million during the quarter, compared to analysts’ expectations of $50.84 million. Applied Optoelectronics had a return on equity of 6.01% and a net margin of 2.16%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. Equities analysts expect that Applied Optoelectronics will post $0.70 earnings per share for the current fiscal year.
In related news, CFO Stefan J. Murry sold 3,660 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $19.05, for a total transaction of $69,723.00. Following the transaction, the chief financial officer now owns 35,093 shares of the company’s stock, valued at approximately $668,521.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.19% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AAOI. Blue Rock Advisors LLC purchased a new position in Applied Optoelectronics during the first quarter valued at about $164,000. Royce & Associates LP raised its position in Applied Optoelectronics by 14.3% in the first quarter. Royce & Associates LP now owns 20,000 shares of the company’s stock valued at $298,000 after buying an additional 2,500 shares during the last quarter. State Street Corp raised its position in Applied Optoelectronics by 8.3% in the first quarter. State Street Corp now owns 240,937 shares of the company’s stock valued at $3,589,000 after buying an additional 18,399 shares during the last quarter. Geode Capital Management LLC raised its position in Applied Optoelectronics by 1.8% in the first quarter. Geode Capital Management LLC now owns 102,242 shares of the company’s stock valued at $1,524,000 after buying an additional 1,854 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Applied Optoelectronics by 19.1% in the first quarter. Wellington Management Group LLP now owns 1,821,316 shares of the company’s stock valued at $27,155,000 after buying an additional 291,994 shares during the last quarter. 78.60% of the stock is currently 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. The Company offers its products for approximately three networking end markets, such as Internet data center; cable television (CATV), and fiber-to-the-home (FTTH). 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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