Zacks Investment Research cut shares of Applied Optoelectronics (NASDAQ:AAOI) from a hold rating to a sell rating in a research note published on Thursday morning.

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. “

AAOI has been the topic of a number of other reports. ValuEngine lowered Applied Optoelectronics from a sell rating to a strong sell rating in a research report on Wednesday, February 20th. BidaskClub lowered Applied Optoelectronics from a sell rating to a strong sell rating in a research report on Tuesday, March 12th. Rosenblatt Securities reissued a sell rating and issued a $10.00 price target (down previously from $15.00) on shares of Applied Optoelectronics in a research note on Tuesday, February 12th. Needham & Company LLC downgraded Applied Optoelectronics from a buy rating to a hold rating in a research note on Friday, February 22nd. Finally, Piper Jaffray Companies reissued a neutral rating and issued a $12.00 price target on shares of Applied Optoelectronics in a research note on Friday, February 22nd. Six analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $20.60.

Shares of AAOI opened at $14.00 on Thursday. The firm has a market capitalization of $278.36 million, a price-to-earnings ratio of 26.42 and a beta of 2.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 2.51. Applied Optoelectronics has a 52 week low of $12.85 and a 52 week high of $50.30.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Thursday, February 21st. The semiconductor company reported ($0.16) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.16). The firm had revenue of $58.02 million for the quarter, compared to analyst estimates of $60.78 million. Applied Optoelectronics had a positive return on equity of 3.06% and a negative net margin of 0.80%. Analysts forecast that Applied Optoelectronics will post -0.76 EPS for the current year.

In other news, CFO Stefan J. Murry sold 2,000 shares of the stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $15.40, for a total value of $30,800.00. Following the transaction, the chief financial officer now owns 64,520 shares of the company’s stock, valued at approximately $993,608. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 4,000 shares of company stock worth $63,220. 6.90% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Applied Optoelectronics by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 208,739 shares of the semiconductor company’s stock valued at $3,220,000 after purchasing an additional 8,793 shares during the period. FMR LLC raised its stake in Applied Optoelectronics by 675.9% during the 4th quarter. FMR LLC now owns 45,780 shares of the semiconductor company’s stock worth $706,000 after buying an additional 39,880 shares during the period. Voloridge Investment Management LLC acquired a new stake in Applied Optoelectronics during the 4th quarter worth $348,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Applied Optoelectronics during the 4th quarter worth $1,994,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Applied Optoelectronics during the 4th quarter worth $85,000. 60.16% of the stock is currently owned by institutional investors.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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