Applied Optoelectronics, Inc. (NASDAQ:AAOI)‘s stock had its “outperform” rating reiterated by Cowen and Company in a research note issued 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 would indicate a potential upside of 54.80% from the stock’s current price.
Several other research firms also recently weighed in on AAOI. Vetr downgraded 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. Needham & Company LLC started coverage on Applied Optoelectronics in a research report on Monday, May 22nd. They set a “strong-buy” rating and a $85.00 price objective on the stock. Vertical Research reissued a “sell” rating on shares of Applied Optoelectronics in a research note on Thursday, March 30th. ValuEngine cut Applied Optoelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, BidaskClub raised Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and five have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $76.87.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded down 34.07% during midday trading on Friday, hitting $64.60. 17,035,329 shares of the stock were exchanged. The stock has a market cap of $1.23 billion, a P/E ratio of 22.76 and a beta of 2.98. Applied Optoelectronics has a 52-week low of $11.67 and a 52-week high of $103.41. The firm’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 results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.28. The company had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a return on equity of 33.94% and a net margin of 21.92%. Applied Optoelectronics’s revenue for the quarter was up 112.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 earnings per share. On average, equities research analysts expect that Applied Optoelectronics will post $5.01 earnings per share for the current fiscal year.
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In related news, General Counsel David C. Kuo sold 3,787 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $60.00, for a total value of $227,220.00. Following the sale, the general counsel now owns 27,460 shares in the company, valued at approximately $1,647,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Hung-Lun (Fred) Chang sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $59.50, for a total value of $595,000.00. Following the completion of the sale, 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 sold a total of 138,742 shares of company stock worth $9,725,420 in the last 90 days. 8.19% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of AAOI. SG Americas Securities LLC acquired a new position in shares of Applied Optoelectronics during the first quarter worth $196,000. Capstone Asset Management Co. acquired a new position in shares of Applied Optoelectronics during the second quarter worth $203,000. 361 Capital LLC acquired a new position in shares of Applied Optoelectronics during the first quarter worth $208,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Applied Optoelectronics during the first quarter worth $213,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Applied Optoelectronics during the second quarter worth $215,000. 78.02% of the stock is currently owned by hedge funds and other 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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