Applied Optoelectronics, Inc. (AAOI) Stock Rating Reaffirmed by Cowen and Company

Applied Optoelectronics, Inc. (NASDAQ:AAOI)‘s stock had its “outperform” rating reaffirmed by investment analysts at Cowen and Company in a report released on Friday, July 14th. They presently have a $100.00 price target on the semiconductor company’s stock, up from their previous price target of $94.00. Cowen and Company’s price objective suggests a potential upside of 3.48% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Vertical Research restated a “sell” rating on shares of Applied Optoelectronics in a research report on Thursday, March 30th. Needham & Company LLC assumed coverage on shares of Applied Optoelectronics in a research report on Monday, May 22nd. They issued a “strong-buy” rating and a $85.00 price objective on the stock. Vetr upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating and set a $72.75 price objective on the stock in a research report on Wednesday, May 17th. BWS Financial assumed coverage on shares of Applied Optoelectronics in a research report on Friday, June 16th. They issued a “sell” rating and a $25.00 price objective on the stock. Finally, Roth Capital boosted their price objective on shares of Applied Optoelectronics from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.64.

Applied Optoelectronics (AAOI) traded down 1.21% during mid-day trading on Friday, hitting $96.64. The company had a trading volume of 2,629,680 shares. The company’s 50 day moving average price is $72.99 and its 200-day moving average price is $54.45. Applied Optoelectronics has a 12-month low of $11.60 and a 12-month high of $103.41. The firm 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 earnings results on Thursday, May 4th. The semiconductor company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. The company had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $96.20 million. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. The firm’s revenue was up 90.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. On average, analysts forecast that Applied Optoelectronics will post $5.01 EPS for the current fiscal year.

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In related news, Director Chewei Lin sold 22,500 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $65.00, for a total transaction of $1,462,500.00. Following the transaction, the director now owns 74,017 shares in the company, valued at $4,811,105. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hung-Lun (Fred) Chang sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were 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 approximately $2,740,213. The disclosure for this sale can be found here. Insiders have sold 138,164 shares of company stock worth $9,669,661 in the last quarter. 8.19% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Applied Optoelectronics during the first quarter valued at approximately $196,000. Capstone Asset Management Co. acquired a new stake in Applied Optoelectronics during the second quarter valued at approximately $203,000. 361 Capital LLC acquired a new stake in Applied Optoelectronics during the first quarter valued at approximately $208,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in Applied Optoelectronics during the first quarter valued at approximately $213,000. Finally, State of Alaska Department of Revenue acquired a new stake in Applied Optoelectronics during the second quarter valued at approximately $215,000. 78.68% 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.