Applied Optoelectronics, Inc. (NASDAQ:AAOI) had its price objective lifted by DA Davidson from $95.00 to $100.00 in a research report sent to investors on Friday, July 14th, Marketbeat Ratings reports. DA Davidson currently has a buy rating on the semiconductor company’s stock.
Several other brokerages have also commented on AAOI. Cowen and Company upped their price objective on shares of Applied Optoelectronics from $75.00 to $94.00 and gave the stock an outperform rating in a report on Friday, May 5th. Vetr downgraded 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 note on Friday, July 14th. Needham & Company LLC started coverage on shares of Applied Optoelectronics in a research note on Monday, May 22nd. They set a strong-buy rating and a $85.00 target price on the stock. Vertical Research reaffirmed a sell rating on shares of Applied Optoelectronics in a research note on Thursday, March 30th. Finally, ValuEngine downgraded shares of Applied Optoelectronics from a buy rating to a hold rating in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and five have issued a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $76.87.
Shares of Applied Optoelectronics (AAOI) traded down 34.07% during trading on Friday, hitting $64.60. 17,035,329 shares of the stock were exchanged. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 22.76 and a beta of 2.98. Applied Optoelectronics has a one year low of $11.67 and a one year high of $103.41. The stock’s 50 day moving average price is $74.92 and its 200-day moving average price is $55.92.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 33.94%. The firm had revenue of $117.40 million for the quarter, compared to analyst estimates of $117.34 million. During the same period in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 112.3% compared to the same quarter last year. On average, analysts predict that Applied Optoelectronics will post $5.01 EPS for the current year.
In other Applied Optoelectronics news, General Counsel David C. Kuo sold 507 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $70.00, for a total value of $35,490.00. Following the sale, the general counsel now directly owns 26,307 shares of the company’s stock, valued at approximately $1,841,490. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel David C. Kuo sold 578 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $96.47, for a total transaction of $55,759.66. Following the completion of the sale, the general counsel now directly owns 23,753 shares in the company, valued at $2,291,451.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,742 shares of company stock worth $9,725,420. Insiders own 8.19% of the company’s stock.
Several large investors have recently made changes to their positions in AAOI. SG Americas Securities LLC purchased a new stake in shares of Applied Optoelectronics during the first quarter worth approximately $196,000. Capstone Asset Management Co. bought a new position in Applied Optoelectronics during the second quarter worth approximately $203,000. 361 Capital LLC bought a new position in Applied Optoelectronics during the first quarter worth approximately $208,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Applied Optoelectronics during the first quarter worth approximately $213,000. Finally, State of Alaska Department of Revenue bought a new position in Applied Optoelectronics during the second quarter worth approximately $215,000. 78.02% of the stock is currently owned by institutional investors.
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.
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