Zacks Investment Research upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) from a strong sell rating to a hold rating in a research report released on Wednesday.

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. “

A number of other equities analysts also recently issued reports on AAOI. BidaskClub downgraded shares of Applied Optoelectronics from a sell rating to a strong sell rating in a report on Saturday, December 9th. Cowen reissued a buy rating and issued a $60.00 price objective (down previously from $74.00) on shares of Applied Optoelectronics in a report on Thursday, December 7th. Northland Securities set a $40.00 price objective on shares of Applied Optoelectronics and gave the stock a sell rating in a report on Sunday, October 15th. BWS Financial set a $25.00 price objective on shares of Applied Optoelectronics and gave the stock a sell rating in a report on Wednesday, August 16th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $63.00 price objective on shares of Applied Optoelectronics in a report on Friday, October 13th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $60.20.

Applied Optoelectronics (AAOI) opened at $38.99 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The stock has a market cap of $755.70, a P/E ratio of 9.26, a P/E/G ratio of 0.60 and a beta of 2.88. Applied Optoelectronics has a 1-year low of $21.88 and a 1-year high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.23). The business had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $88.53 million. Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. analysts expect that Applied Optoelectronics will post 4.22 EPS for the current year.

In other Applied Optoelectronics news, CEO Chih-Hsiang (Thompson) Lin sold 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $45.30, for a total transaction of $58,890.00. Following the sale, the chief executive officer now owns 522,837 shares in the company, valued at approximately $23,684,516.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $40.43, for a total transaction of $40,430.00. Following the sale, the director now owns 35,478 shares in the company, valued at approximately $1,434,375.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,900 shares of company stock worth $365,804. 8.19% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAOI. State of Tennessee Treasury Department bought a new stake in shares of Applied Optoelectronics during the second quarter valued at approximately $23,563,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Applied Optoelectronics during the second quarter valued at approximately $9,910,000. Great West Life Assurance Co. Can bought a new stake in shares of Applied Optoelectronics during the second quarter valued at approximately $1,583,000. LSV Asset Management raised its position in shares of Applied Optoelectronics by 76.4% during the second quarter. LSV Asset Management now owns 82,200 shares of the semiconductor company’s stock valued at $5,079,000 after buying an additional 35,600 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Applied Optoelectronics by 132.5% during the second quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock valued at $7,614,000 after buying an additional 70,224 shares during the last quarter. Institutional investors own 76.69% of the company’s stock.

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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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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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