BidaskClub upgraded shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) from a buy rating to a strong-buy rating in a research note issued to investors on Monday.
A number of other equities analysts have also issued reports on AAOI. Needham & Company LLC upped their target price on shares of Applied Optoelectronics from $100.00 to $115.00 and gave the stock a strong-buy rating in a research report on Monday, July 24th. ValuEngine lowered shares of Applied Optoelectronics from a buy rating to a hold rating in a research report on Thursday, July 13th. Craig Hallum reiterated a buy rating and set a $95.00 target price (up from $85.00) on shares of Applied Optoelectronics in a research report on Friday, July 14th. Cowen and Company reiterated an outperform rating and set a $100.00 target price (up from $94.00) on shares of Applied Optoelectronics in a research report on Friday, July 14th. Finally, Vetr lowered shares of Applied Optoelectronics from a strong-buy rating to a buy rating and set a $84.73 target price on the stock. in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $80.64.
Shares of Applied Optoelectronics (NASDAQ AAOI) traded up 2.17% during midday trading on Monday, reaching $99.61. The company had a trading volume of 3,132,215 shares. The company has a market capitalization of $1.89 billion, a P/E ratio of 35.10 and a beta of 2.85. The firm’s 50 day moving average price is $73.92 and its 200-day moving average price is $55.40. Applied Optoelectronics has a 12 month low of $11.60 and a 12 month high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Thursday, May 4th. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.09. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. The company had revenue of $96.20 million for the quarter, compared to analyst estimates of $96.20 million. During the same period in the prior year, the business earned ($0.04) earnings per share. Applied Optoelectronics’s quarterly revenue was up 90.9% on a year-over-year basis. Analysts anticipate that Applied Optoelectronics will post $5.01 earnings per share for the current fiscal year.
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In related news, Director Chewei Lin sold 22,500 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $65.00, for a total value of $1,462,500.00. Following the transaction, the director now directly owns 74,017 shares in the company, valued at $4,811,105. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stefan J. Murry sold 3,168 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $63.51, for a total transaction of $201,199.68. Following the completion of the transaction, the chief financial officer now owns 58,526 shares in the company, valued at $3,716,986.26. The disclosure for this sale can be found here. Insiders sold 138,742 shares of company stock worth $9,725,420 over the last 90 days. 8.19% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Applied Optoelectronics during the first quarter valued at $196,000. Capstone Asset Management Co. acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $203,000. 361 Capital LLC acquired a new position in shares of Applied Optoelectronics during the first quarter valued at $208,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Applied Optoelectronics during the first quarter valued at $213,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $215,000. Institutional investors and hedge funds own 78.02% of the company’s stock.
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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