Applied Optoelectronics, Inc. (AAOI) Price Target Raised to $90.00 at Roth Capital
Applied Optoelectronics, Inc. (NASDAQ:AAOI) had its target price upped by Roth Capital from $70.00 to $90.00 in a research report report published on Thursday, July 13th. They currently have a buy rating on the semiconductor company’s stock.
Other equities research analysts have also issued research reports about the company. ValuEngine upgraded Applied Optoelectronics from a hold rating to a buy rating in a research note on Thursday, May 18th. Vetr lowered Applied Optoelectronics from a strong-buy rating to a buy rating and set a $75.55 target price for the company. in a research report on Monday, May 22nd. DA Davidson initiated coverage on Applied Optoelectronics in a research report on Thursday, June 29th. They issued a buy rating and a $95.00 target price for the company. BidaskClub upgraded Applied Optoelectronics from a hold rating to a buy rating in a research report on Wednesday, July 12th. Finally, Cowen and Company reiterated an outperform rating and issued a $94.00 target price on shares of Applied Optoelectronics in a research report on Thursday, May 25th. Three equities research analysts have rated the stock with a sell rating, seven have issued a buy rating and five have issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $76.35.
Shares of Applied Optoelectronics (NASDAQ AAOI) opened at 71.20 on Thursday. Applied Optoelectronics has a 1-year low of $13.06 and a 1-year high of $103.41. The company’s 50-day moving average price is $76.90 and its 200 day moving average price is $56.55. The stock has a market cap of $1.35 billion, a PE ratio of 25.09 and a beta of 2.98. Applied Optoelectronics also was the recipient of some unusual options trading on Monday. Stock investors acquired 640 put options on the company. This represents an increase of approximately 106% compared to the average daily volume of 310 put options.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm had revenue of $117.40 million during the quarter, compared to analyst estimates of $117.34 million. During the same quarter last year, the firm earned $0.16 EPS. Applied Optoelectronics’s quarterly revenue was up 112.3% on a year-over-year basis. Equities analysts forecast that Applied Optoelectronics will post $5.30 EPS for the current fiscal year.
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In related news, Director Chewei Lin sold 22,500 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $65.00, for a total value of $1,462,500.00. Following the sale, the director now owns 74,017 shares of the company’s stock, valued at approximately $4,811,105. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chih-Hsiang (Thompson) Lin sold 8,586 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $66.00, for a total value of $566,676.00. Following the completion of the sale, the insider now directly owns 320,455 shares in the company, valued at approximately $21,150,030. The disclosure for this sale can be found here. In the last three months, insiders sold 115,844 shares of company stock worth $8,324,930. Company insiders own 8.19% of the company’s stock.
Several hedge funds have recently made changes to their positions in AAOI. Renaissance Technologies LLC increased its stake in shares of Applied Optoelectronics by 195.2% in the first quarter. Renaissance Technologies LLC now owns 514,000 shares of the semiconductor company’s stock valued at $28,861,000 after buying an additional 339,900 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Applied Optoelectronics during the fourth quarter valued at $264,000. Ameriprise Financial Inc. increased its stake in shares of Applied Optoelectronics by 21.8% in the first quarter. Ameriprise Financial Inc. now owns 115,735 shares of the semiconductor company’s stock valued at $6,498,000 after buying an additional 20,695 shares during the last quarter. Bourne Lent Asset Management Inc. increased its stake in shares of Applied Optoelectronics by 21.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 8,650 shares of the semiconductor company’s stock valued at $534,000 after buying an additional 1,550 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Applied Optoelectronics during the fourth quarter valued at $2,293,000. 77.36% of the stock is currently owned by institutional investors and hedge funds.
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.
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