Applied Optoelectronics, Inc. (AAOI) Downgraded by ValuEngine
ValuEngine lowered shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) from a strong-buy rating to a buy rating in a research report released on Friday.
A number of other equities analysts also recently commented on AAOI. Cowen and Company reissued an outperform rating and issued a $102.00 price objective (up previously from $100.00) on shares of Applied Optoelectronics in a research note on Wednesday, August 9th. Roth Capital reissued a buy rating and issued a $90.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 10th. BWS Financial reissued a sell rating and issued a $25.00 price objective on shares of Applied Optoelectronics in a research note on Thursday. Vetr downgraded shares of Applied Optoelectronics from a strong-buy rating to a buy rating and set a $72.50 price objective for the company. in a research note on Monday, August 7th. Finally, Northland Securities downgraded shares of Applied Optoelectronics from an outperform rating to a market perform rating and reduced their price objective for the stock from $47.00 to $43.00 in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a buy rating and four have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $76.98.
Applied Optoelectronics (NASDAQ:AAOI) opened at 58.98 on Friday. Applied Optoelectronics has a 52-week low of $17.04 and a 52-week high of $103.41. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 14.01 and a beta of 3.06. The company’s 50-day moving average price is $76.43 and its 200-day moving average price is $61.22.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.28. The company had revenue of $117.40 million during the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. Applied Optoelectronics’s revenue for the quarter was up 112.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Equities research analysts expect that Applied Optoelectronics will post $5.38 EPS for the current fiscal year.
In other news, CFO Stefan J. Murry sold 3,050 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $70.21, for a total transaction of $214,140.50. Following the transaction, the chief financial officer now directly owns 57,540 shares of the company’s stock, valued at $4,039,883.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Hung-Lun (Fred) Chang sold 10,000 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $60.11, for a total value of $601,100.00. Following the transaction, the insider now directly owns 48,721 shares in the company, valued at $2,928,619.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,633 shares of company stock worth $3,015,105. Insiders own 8.19% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC increased its position in shares of Applied Optoelectronics by 20.5% during the second quarter. Lord Abbett & CO. LLC now owns 213,020 shares of the semiconductor company’s stock worth $13,163,000 after purchasing an additional 36,182 shares in the last quarter. Navellier & Associates Inc acquired a new position in shares of Applied Optoelectronics during the second quarter worth $1,288,000. Advisory Services Network LLC acquired a new position in shares of Applied Optoelectronics during the second quarter worth $137,000. Public Employees Retirement System of Ohio increased its position in shares of Applied Optoelectronics by 132.5% during the second quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock worth $7,614,000 after purchasing an additional 70,224 shares in the last quarter. Finally, Sterneck Capital Management LLC acquired a new position in shares of Applied Optoelectronics during the second quarter worth $247,000. 81.70% 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, 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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