Applied Optoelectronics, Inc. (AAOI) Given “Buy” Rating at Roth Capital
Applied Optoelectronics, Inc. (NASDAQ:AAOI)‘s stock had its “buy” rating restated by equities research analysts at Roth Capital in a research note issued to investors on Thursday. They currently have a $90.00 price target on the semiconductor company’s stock. Roth Capital’s target price suggests a potential upside of 33.39% from the stock’s previous close.
Several other equities analysts also recently issued reports on AAOI. Cowen and Company reissued an “outperform” rating and issued a $102.00 target price (up from $100.00) on shares of Applied Optoelectronics in a research report on Wednesday. Vetr downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 target price on the stock. in a research report on Monday. Northland Securities downgraded Applied Optoelectronics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $47.00 to $43.00 in a research report on Friday, August 4th. ValuEngine downgraded Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, BidaskClub downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a buy rating and six have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $76.98.
Applied Optoelectronics (NASDAQ AAOI) traded down 4.0499% on Thursday, reaching $64.7375. The company had a trading volume of 1,277,017 shares. The stock’s 50-day moving average is $77.50 and its 200-day moving average is $57.58. The company has a market capitalization of $1.24 billion, a P/E ratio of 15.3807 and a beta of 2.98. Applied Optoelectronics has a 52 week low of $13.06 and a 52 week high of $103.41. Applied Optoelectronics also was the recipient of some unusual options trading on Monday. Stock traders purchased 640 put options on the stock. This is an increase of 106% compared to the typical daily volume of 310 put options.
Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. During the same period in the prior year, the firm earned $0.16 EPS. The firm’s revenue was up 112.3% on a year-over-year basis. Equities research analysts forecast that Applied Optoelectronics will post $5.30 EPS for the current fiscal year.
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In other news, General Counsel David C. Kuo sold 889 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $70.00, for a total transaction of $62,230.00. Following the sale, the general counsel now directly owns 22,864 shares of the company’s stock, valued at approximately $1,600,480. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Chewei Lin sold 22,500 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $1,462,500.00. Following the sale, the director now directly owns 74,017 shares in the company, valued at $4,811,105. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,844 shares of company stock worth $8,324,930. Corporate insiders own 8.19% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in Applied Optoelectronics by 195.2% in the first quarter. Renaissance Technologies LLC now owns 514,000 shares of the semiconductor company’s stock valued at $28,861,000 after buying an additional 339,900 shares during the last quarter. Bourne Lent Asset Management Inc. raised its stake in Applied Optoelectronics by 21.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 8,650 shares of the semiconductor company’s stock valued at $534,000 after buying an additional 1,550 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Applied Optoelectronics by 21.8% in the first quarter. Ameriprise Financial Inc. now owns 115,735 shares of the semiconductor company’s stock valued at $6,498,000 after buying an additional 20,695 shares during the last quarter. Morgan Stanley raised its stake in Applied Optoelectronics by 245.9% in the first quarter. Morgan Stanley now owns 521,051 shares of the semiconductor company’s stock valued at $29,257,000 after buying an additional 370,427 shares during the last quarter. Finally, State Street Corp raised its stake in Applied Optoelectronics by 5.9% in the fourth quarter. State Street Corp now owns 262,066 shares of the semiconductor company’s stock valued at $6,143,000 after buying an additional 14,484 shares during the last quarter. 77.36% of the stock is currently owned by institutional investors and hedge funds.
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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