Applied Optoelectronics’ (AAOI) Overweight Rating Reaffirmed at Piper Jaffray Cos.
Applied Optoelectronics Inc. (NASDAQ:AAOI)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Jaffray Cos. in a report released on Friday. They presently have a $27.00 price objective on the stock, up from their previous price objective of $24.00. Piper Jaffray Cos.’s price target would indicate a potential upside of 18.84% from the stock’s previous close.
AAOI has been the topic of several other reports. Roth Capital reiterated a “buy” rating and set a $23.00 target price on shares of Applied Optoelectronics in a research report on Thursday, September 8th. TheStreet raised shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Craig Hallum lifted their price target on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Finally, Zacks Investment Research raised shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Seven analysts have rated the stock with a buy rating, Applied Optoelectronics has a consensus rating of “Buy” and a consensus price target of $24.00.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded down 1.43% during mid-day trading on Friday, reaching $22.72. 162,770 shares of the company were exchanged. Applied Optoelectronics has a 12 month low of $8.08 and a 12 month high of $24.18. The firm has a 50-day moving average price of $19.20 and a 200 day moving average price of $13.78. The stock has a market capitalization of $389.42 million, a P/E ratio of 83.84 and a beta of 2.29.
Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.10. Applied Optoelectronics had a net margin of 2.16% and a return on equity of 6.01%. The business had revenue of $55.30 million for the quarter, compared to analyst estimates of $50.84 million. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Equities research analysts anticipate that Applied Optoelectronics will post $0.71 EPS for the current fiscal year.
In other Applied Optoelectronics news, CFO Stefan J. Murry sold 3,660 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $19.05, for a total value of $69,723.00. Following the completion of the transaction, the chief financial officer now directly owns 35,093 shares of the company’s stock, valued at $668,521.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.19% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in AAOI. American International Group Inc. increased its position in shares of Applied Optoelectronics by 5.7% in the second quarter. American International Group Inc. now owns 9,496 shares of the company’s stock worth $106,000 after buying an additional 515 shares in the last quarter. Blue Rock Advisors LLC bought a new position in shares of Applied Optoelectronics during the first quarter worth $164,000. Bank of Montreal Can bought a new position in shares of Applied Optoelectronics during the second quarter worth $172,000. Quantitative Systematic Strategies LLC increased its position in shares of Applied Optoelectronics by 55.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,881 shares of the company’s stock worth $165,000 after buying an additional 5,645 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Applied Optoelectronics by 6.4% in the second quarter. Marshall Wace LLP now owns 18,354 shares of the company’s stock worth $205,000 after buying an additional 1,098 shares in the last quarter. 78.60% of the stock is owned by institutional investors.
About Applied Optoelectronics
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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