Applied Optoelectronics Inc (NASDAQ:AAOI) – Equities research analysts at B. Riley lowered their Q1 2018 earnings per share (EPS) estimates for Applied Optoelectronics in a research note issued to investors on Friday, according to Zacks Investment Research. B. Riley analyst D. Kang now expects that the semiconductor company will post earnings of $0.66 per share for the quarter, down from their previous forecast of $0.70. B. Riley currently has a “Neutral” rating and a $30.50 price target on the stock. B. Riley also issued estimates for Applied Optoelectronics’ Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.71 EPS and FY2018 earnings at $2.72 EPS.
A number of other equities analysts also recently weighed in on AAOI. BidaskClub raised Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC reduced their price target on Applied Optoelectronics from $50.00 to $40.00 and set a “strong-buy” rating for the company in a research report on Thursday, February 22nd. Craig Hallum downgraded Applied Optoelectronics from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. Zacks Investment Research downgraded Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 28th. Finally, Cowen reaffirmed an “outperform” rating and set a $53.00 price target (down previously from $60.00) on shares of Applied Optoelectronics in a research report on Thursday, February 22nd. Five analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.03.
In related news, Director Richard B. Black sold 1,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $35.37, for a total value of $35,370.00. Following the sale, the director now owns 34,478 shares in the company, valued at approximately $1,219,486.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.19% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of AAOI. State of Tennessee Treasury Department increased its position in Applied Optoelectronics by 113.9% during the 3rd quarter. State of Tennessee Treasury Department now owns 815,552 shares of the semiconductor company’s stock worth $52,742,000 after buying an additional 434,207 shares during the period. Vanguard Group Inc. increased its position in Applied Optoelectronics by 49.8% during the 2nd quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock worth $58,917,000 after buying an additional 317,033 shares during the period. TT International bought a new position in Applied Optoelectronics during the 3rd quarter worth $19,089,000. Newtyn Management LLC bought a new position in Applied Optoelectronics during the 3rd quarter worth $12,934,000. Finally, Marble Arch Investments LP increased its position in Applied Optoelectronics by 104.8% during the 4th quarter. Marble Arch Investments LP now owns 360,000 shares of the semiconductor company’s stock worth $13,615,000 after buying an additional 184,200 shares during the period. Hedge funds and other institutional investors own 61.76% of the company’s stock.
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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