Cowen and Company reissued their outperform rating on shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) in a research note released on Friday, The Fly reports. Cowen and Company currently has a $81.00 price target on the semiconductor company’s stock, down from their previous price target of $102.00.

A number of other brokerages have also recently commented on AAOI. BidaskClub upgraded Applied Optoelectronics from a buy rating to a strong-buy rating in a research note on Monday, July 31st. Vetr cut Applied Optoelectronics from a strong-buy rating to a buy rating and set a $84.73 price objective on the stock. in a research note on Friday, July 14th. ValuEngine upgraded Applied Optoelectronics from a buy rating to a strong-buy rating in a research note on Friday, August 4th. BWS Financial set a $25.00 price objective on Applied Optoelectronics and gave the stock a sell rating in a research note on Wednesday, August 16th. Finally, Needham & Company LLC restated a strong-buy rating and set a $85.00 price objective on shares of Applied Optoelectronics in a research note on Monday, June 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and four have given a strong buy rating to the stock. Applied Optoelectronics currently has a consensus rating of Buy and a consensus target price of $70.42.

Shares of Applied Optoelectronics (AAOI) opened at 43.38 on Friday. The firm has a market cap of $837.36 million, a price-to-earnings ratio of 10.31 and a beta of 3.06. Applied Optoelectronics has a 52-week low of $18.85 and a 52-week high of $103.41. The firm has a 50-day moving average price of $60.34 and a 200-day moving average price of $64.00.

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 the Zacks’ consensus estimate of $1.15 by $0.28. The company had revenue of $117.40 million for the quarter, compared to analysts’ expectations of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm’s quarterly revenue was up 112.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Analysts predict that Applied Optoelectronics will post $5.32 EPS for the current fiscal year.

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In related news, CFO Stefan J. Murry sold 3,050 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $70.21, for a total value of $214,140.50. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this link. Also, General Counsel David C. Kuo sold 578 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $96.47, for a total value of $55,759.66. Following the completion of the sale, the general counsel now directly owns 23,753 shares of the company’s stock, valued at $2,291,451.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,633 shares of company stock valued at $2,879,445. 8.19% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. increased its holdings in 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 last quarter. Legal & General Group Plc increased its holdings in 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 last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in 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 last quarter. Nationwide Fund Advisors increased its holdings in 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 last quarter. Finally, Carnegie Capital Asset Management LLC increased its holdings in Applied Optoelectronics by 4.3% in the second quarter. Carnegie Capital Asset Management LLC now owns 8,920 shares of the semiconductor company’s stock valued at $834,000 after buying an additional 370 shares during the last quarter. 81.59% 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.

The Fly

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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