Applied Optoelectronics, Inc. (NASDAQ:AAOI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” 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. “

Several other equities research analysts have also recently commented on AAOI. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Applied Optoelectronics in a report on Tuesday, September 5th. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating on shares of Applied Optoelectronics in a report on Thursday, August 31st. BWS Financial reaffirmed a “sell” rating and issued a $25.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 31st. ValuEngine cut Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and four have given a strong buy rating to the company. Applied Optoelectronics currently has an average rating of “Buy” and an average target price of $70.42.

Shares of Applied Optoelectronics (NASDAQ AAOI) opened at 42.29 on Tuesday. The firm has a 50-day moving average price of $58.78 and a 200-day moving average price of $63.66. Applied Optoelectronics has a 1-year low of $18.85 and a 1-year high of $103.41. The company has a market cap of $816.32 million, a P/E ratio of 10.05 and a beta of 3.06.

Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 EPS 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 business had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $117.34 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The business’s revenue was up 112.3% compared to the same quarter last year. On average, equities analysts expect that Applied Optoelectronics will post $4.62 EPS for the current year.

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In related news, CFO Stefan J. Murry sold 3,050 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 57,540 shares in the company, valued at $4,039,883.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard B. Black sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $66.10, for a total value of $66,100.00. Following the completion of the transaction, the director now owns 39,478 shares of the company’s stock, valued at $2,609,495.80. The disclosure for this sale can be found here. Insiders sold 15,633 shares of company stock valued at $1,029,245 over the last quarter. 8.19% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. grew its position in Applied Optoelectronics by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,937 shares of the semiconductor company’s stock worth $614,000 after acquiring an additional 26 shares during the period. Legal & General Group Plc grew its position 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 worth $248,000 after acquiring an additional 153 shares during the period. DORCHESTER WEALTH MANAGEMENT Co grew its position 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 worth $253,000 after acquiring an additional 300 shares during the period. Nationwide Fund Advisors grew its position in Applied Optoelectronics by 3.1% in the first quarter. Nationwide Fund Advisors now owns 10,566 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 315 shares during the period. Finally, Carnegie Capital Asset Management LLC grew its position 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 worth $834,000 after acquiring an additional 370 shares during the period. Institutional investors own 81.59% of the company’s stock.

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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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