BidaskClub Downgrades Applied Optoelectronics, Inc. (AAOI) to Buy
BidaskClub downgraded shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) from a strong-buy rating to a buy rating in a report issued on Wednesday.
AAOI has been the subject of several other reports. Vetr upgraded shares of Applied Optoelectronics from a buy rating to a strong-buy rating and set a $76.81 price objective for the company in a research note on Wednesday, August 9th. Roth Capital reiterated a buy rating and set a $70.00 price objective (up from $60.00) on shares of Applied Optoelectronics in a research note on Friday, May 5th. Cowen and Company lifted their price objective on shares of Applied Optoelectronics from $75.00 to $94.00 and gave the stock an outperform rating in a research note on Monday, May 15th. Needham & Company LLC lifted their price objective on shares of Applied Optoelectronics from $85.00 to $100.00 and gave the stock a strong-buy rating in a research note on Friday, July 14th. Finally, DA Davidson set a $103.00 price objective on shares of Applied Optoelectronics and gave the stock a buy rating in a research note on Saturday, August 5th. Three investment analysts have rated the stock with a sell rating, seven have issued a buy rating and five have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $76.98.
Shares of Applied Optoelectronics (AAOI) opened at 62.30 on Wednesday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 14.80 and a beta of 2.98. The company’s 50 day moving average price is $77.90 and its 200-day moving average price is $60.21. Applied Optoelectronics has a 12 month low of $15.93 and a 12 month high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The company had revenue of $117.40 million during the quarter, compared to the consensus estimate of $117.34 million. During the same period last year, the firm earned $0.16 earnings per share. Applied Optoelectronics’s revenue was up 112.3% compared to the same quarter last year. Equities analysts predict that Applied Optoelectronics will post $5.38 earnings per share for the current year.
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In related news, General Counsel David C. Kuo sold 1,116 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $94.87, for a total transaction of $105,874.92. Following the completion of the transaction, the general counsel now owns 25,041 shares of the company’s stock, valued at $2,375,639.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $59.70, for a total transaction of $59,700.00. Following the transaction, the director now directly owns 40,478 shares of the company’s stock, valued at approximately $2,416,536.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,633 shares of company stock valued at $5,178,705. 8.19% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AAOI. Alps Advisors Inc. boosted its position in shares of Applied Optoelectronics by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,937 shares of the semiconductor company’s stock valued at $614,000 after buying an additional 26 shares during the period. Legal & General Group Plc boosted its position in shares of Applied Optoelectronics by 3.6% in the first quarter. Legal & General Group Plc now owns 4,412 shares of the semiconductor company’s stock valued at $248,000 after buying an additional 153 shares during the period. ClariVest Asset Management LLC boosted its position in shares of Applied Optoelectronics by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 5,345 shares of the semiconductor company’s stock valued at $300,000 after buying an additional 271 shares during the period. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Applied Optoelectronics by 7.9% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,100 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 300 shares during the period. Finally, Nationwide Fund Advisors boosted its position in shares of Applied Optoelectronics by 3.1% in the first quarter. Nationwide Fund Advisors now owns 10,566 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 315 shares during the period. 79.40% of the stock is 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, 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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