Applied Optoelectronics Inc. (NASDAQ:AAOI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.

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. “

AAOI has been the topic of several other reports. Piper Jaffray Cos. restated an “overweight” rating and issued a $27.00 price target (up from $24.00) on shares of Applied Optoelectronics in a research report on Friday, October 7th. Roth Capital restated a “buy” rating and issued a $23.00 price target on shares of Applied Optoelectronics in a research report on Thursday, September 8th. Craig Hallum raised their price target on Applied Optoelectronics from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, August 25th. Finally, TheStreet upgraded Applied Optoelectronics from a “hold” rating to a “buy” rating in a research report on Monday, October 3rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $24.67.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

Applied Optoelectronics (NASDAQ:AAOI) opened at 23.55 on Tuesday. Applied Optoelectronics has a 52 week low of $8.08 and a 52 week high of $24.18. The stock has a market cap of $403.88 million, a P/E ratio of 21.33 and a beta of 2.37. The firm has a 50-day moving average price of $21.28 and a 200-day moving average price of $14.84.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.10. Applied Optoelectronics had a return on equity of 6.06% and a net margin of 8.61%. The business had revenue of $70.10 million for the quarter, compared to analyst estimates of $64 million. During the same period last year, the company earned $0.40 EPS. The firm’s revenue was up 22.8% on a year-over-year basis. On average, equities research analysts predict that Applied Optoelectronics will post $1.03 EPS for the current year.

In related news, CFO Stefan J. Murry sold 3,660 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $19.05, for a total transaction of $69,723.00. Following the sale, the chief financial officer now owns 35,093 shares of the company’s stock, valued at approximately $668,521.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.19% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. American International Group Inc. increased its stake in Applied Optoelectronics by 5.7% in the second quarter. American International Group Inc. now owns 9,496 shares of the company’s stock valued at $106,000 after buying an additional 515 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Applied Optoelectronics during the third quarter valued at about $116,000. SG Americas Securities LLC purchased a new stake in Applied Optoelectronics during the third quarter valued at about $117,000. Blue Rock Advisors LLC increased its stake in Applied Optoelectronics by 4.6% in the second quarter. Blue Rock Advisors LLC now owns 11,497 shares of the company’s stock valued at $128,000 after buying an additional 508 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC increased its stake in Applied Optoelectronics by 55.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,881 shares of the company’s stock valued at $165,000 after buying an additional 5,645 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:AAOI

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