Applied Optoelectronics (AAOI) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday.
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 analysts have also weighed in on the company. Needham & Company LLC reaffirmed a buy rating and issued a $115.00 price objective on shares of Applied Optoelectronics in a research note on Tuesday, September 5th. Raymond James Financial reaffirmed a strong-buy rating on shares of Applied Optoelectronics in a research note on Thursday, August 31st. BWS Financial reaffirmed a sell rating and issued a $25.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 31st. ValuEngine lowered Applied Optoelectronics from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Finally, Cowen reaffirmed an outperform rating and issued a $81.00 price objective (down from $102.00) on shares of Applied Optoelectronics in a research note on Friday, October 13th. Four research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and four have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $60.20.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.23). The business had revenue of $88.90 million during the quarter, compared to analyst estimates of $88.53 million. Applied Optoelectronics had a net margin of 21.29% and a return on equity of 32.35%. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. equities analysts anticipate that Applied Optoelectronics will post 4.22 EPS for the current year.
In other news, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $40.43, for a total transaction of $40,430.00. Following the completion of the transaction, the director now directly owns 35,478 shares in the company, valued at $1,434,375.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan D. Moore acquired 22,400 shares of the stock in a transaction dated Monday, November 13th. The shares were bought at an average price of $44.60 per share, with a total value of $999,040.00. The disclosure for this purchase can be found here. Insiders have sold 7,900 shares of company stock worth $365,804 over the last three months. Insiders own 8.19% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Flinton Capital Management LLC bought a new position in shares of Applied Optoelectronics during the second quarter worth about $115,000. Citigroup Inc. increased its holdings in Applied Optoelectronics by 96.2% in the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 993 shares in the last quarter. Advisory Services Network LLC bought a new stake in Applied Optoelectronics in the second quarter worth approximately $137,000. Pinebridge Investments L.P. bought a new stake in Applied Optoelectronics in the second quarter worth approximately $144,000. Finally, PNC Financial Services Group Inc. bought a new stake in Applied Optoelectronics in the second quarter worth approximately $149,000. Institutional investors own 76.69% of the company’s stock.
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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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