Applied Optoelectronics, Inc. (NASDAQ:AAOI) Price Target Raised to $100.00 at DA Davidson

Applied Optoelectronics, Inc. (NASDAQ:AAOI) had its target price raised by DA Davidson from $95.00 to $100.00 in a research note issued to investors on Friday, July 14th, Marketbeat.com reports. DA Davidson currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages have also commented on AAOI. Roth Capital raised their price objective on shares of Applied Optoelectronics from $70.00 to $90.00 and gave the stock a buy rating in a report on Thursday, July 13th. ValuEngine lowered shares of Applied Optoelectronics from a buy rating to a hold rating in a report on Thursday, July 13th. Craig Hallum restated a buy rating and set a $95.00 price objective (up from $85.00) on shares of Applied Optoelectronics in a report on Friday, July 14th. Cowen and Company reiterated an outperform rating and issued a $100.00 price target (up from $94.00) on shares of Applied Optoelectronics in a research note on Friday, July 14th. Finally, Needham & Company LLC lifted their price target on shares of Applied Optoelectronics from $85.00 to $100.00 and gave the company a strong-buy rating in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $80.64.

Shares of Applied Optoelectronics (NASDAQ AAOI) traded down 1.21% on Friday, reaching $96.64. The company had a trading volume of 2,629,680 shares. The company has a 50 day moving average price of $72.31 and a 200 day moving average price of $53.91. Applied Optoelectronics has a 52-week low of $11.60 and a 52-week high of $103.41. The stock has a market capitalization of $1.84 billion, a PE ratio of 34.05 and a beta of 2.84.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. The business had revenue of $96.20 million for the quarter, compared to analyst estimates of $96.20 million. During the same period last year, the business posted ($0.04) earnings per share. The firm’s quarterly revenue was up 90.9% on a year-over-year basis. On average, equities research analysts anticipate that Applied Optoelectronics will post $5.01 earnings per share for the current year.

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In other news, General Counsel David C. Kuo sold 507 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $70.00, for a total transaction of $35,490.00. Following the transaction, the general counsel now directly owns 26,307 shares in the company, valued at approximately $1,841,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hung-Lun (Fred) Chang sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $59.50, for a total transaction of $595,000.00. Following the transaction, the insider now owns 46,054 shares in the company, valued at $2,740,213. The disclosure for this sale can be found here. Insiders have sold a total of 138,164 shares of company stock worth $9,669,661 over the last 90 days. 8.19% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capstone Asset Management Co. purchased a new position in Applied Optoelectronics during the second quarter valued at $203,000. SG Americas Securities LLC bought a new stake in shares of Applied Optoelectronics during the first quarter valued at approximately $196,000. State of Alaska Department of Revenue bought a new stake in shares of Applied Optoelectronics during the second quarter valued at approximately $215,000. 361 Capital LLC bought a new stake in shares of Applied Optoelectronics during the first quarter valued at approximately $208,000. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Applied Optoelectronics during the first quarter valued at approximately $213,000. Institutional investors own 78.68% 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.