Applied Optoelectronics (AAOI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Applied Optoelectronics (NASDAQ:AAOI) from a hold rating to a sell rating in a report issued on Monday, February 19th.

According to Zacks, “Applied Optoelectronics, Inc. designs, develops and manufactures advanced optical devices, packaged optical components, optical subsystems, laser transmitters and fiber optic transceivers. The company’s products are used in fiber optic communications equipment for FTTH, point-to-point telecom, datacom and access networks and systems supporting cable television, network infrastructure. Applied Optoelectronics, Inc. is headquartered in Sugar Land, Texas. “

Other equities analysts have also issued research reports about the company. BidaskClub raised Applied Optoelectronics from a strong sell rating to a sell rating in a research note on Monday, February 5th. Craig Hallum set a $32.00 price target on Applied Optoelectronics and gave the company a hold rating in a research report on Tuesday, February 13th. Piper Jaffray Companies lowered Applied Optoelectronics from an overweight rating to a neutral rating in a research report on Monday, January 29th. Needham & Company LLC reduced their price target on Applied Optoelectronics from $75.00 to $50.00 and set a strong-buy rating on the stock in a research report on Wednesday, November 8th. Finally, ValuEngine downgraded Applied Optoelectronics from a strong-buy rating to a buy rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Applied Optoelectronics currently has a consensus rating of Hold and an average price target of $48.03.

Shares of Applied Optoelectronics (NASDAQ AAOI) traded down $0.39 during trading on Monday, hitting $29.12. The stock had a trading volume of 917,384 shares, compared to its average volume of 1,730,000. Applied Optoelectronics has a twelve month low of $26.11 and a twelve month high of $103.41. The company has a current ratio of 3.25, a quick ratio of 2.18 and a debt-to-equity ratio of 0.15. The firm has a market cap of $567.86, a price-to-earnings ratio of 8.54, a PEG ratio of 1.15 and a beta of 2.58.

In related news, Director Richard B. Black sold 1,000 shares of Applied Optoelectronics stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $35.37, for a total transaction of $35,370.00. Following the completion of the transaction, the director now directly owns 34,478 shares of the company’s stock, valued at $1,219,486.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.19% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in AAOI. Resources Investment Advisors Inc. increased its position in Applied Optoelectronics by 218.5% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,796 shares of the semiconductor company’s stock worth $106,000 after buying an additional 1,918 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Applied Optoelectronics during the fourth quarter valued at about $113,000. Citigroup Inc. grew its position in Applied Optoelectronics by 96.2% during the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 993 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Applied Optoelectronics during the fourth quarter valued at about $134,000. Finally, Advisory Services Network LLC purchased a new stake in Applied Optoelectronics during the second quarter valued at about $137,000. 61.76% of the stock is owned by institutional investors.

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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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