Applied Optoelectronics, Inc. (NASDAQ:AAOI) had its price objective cut by Needham & Company LLC from $115.00 to $75.00 in a research note published on Friday, MarketBeat.com reports. They currently have a strong-buy rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on AAOI. Piper Jaffray Companies reaffirmed a buy rating and issued a $63.00 price objective on shares of Applied Optoelectronics in a research note on Friday. Roth Capital reaffirmed a buy rating and issued a $90.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 10th. Cowen and Company reaffirmed an outperform rating and issued a $102.00 price objective (up from $100.00) on shares of Applied Optoelectronics in a research note on Wednesday, August 9th. Vetr lowered shares of Applied Optoelectronics from a strong-buy rating to a buy rating and set a $72.50 price objective on the stock. in a research note on Monday, August 7th. Finally, Northland Securities lowered shares of Applied Optoelectronics from an outperform rating to a market perform rating and dropped their price objective for the company from $47.00 to $43.00 in a research note on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and four have given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $70.42.

Shares of Applied Optoelectronics (NASDAQ:AAOI) opened at 43.38 on Friday. The company has a market capitalization of $837.36 million, a PE ratio of 10.31 and a beta of 3.06. The company has a 50-day moving average of $60.34 and a 200 day moving average of $64.00. Applied Optoelectronics has a 52-week low of $18.85 and a 52-week high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.28. The business had revenue of $117.40 million for the quarter, compared to analyst estimates of $117.34 million. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. Applied Optoelectronics’s revenue was up 112.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. Analysts predict that Applied Optoelectronics will post $5.32 earnings per share for the current year.

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In related news, insider Shu-Hua (Joshua) Yeh sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $92.51, for a total transaction of $1,850,200.00. Following the transaction, the insider now directly owns 89,742 shares of the company’s stock, valued at $8,302,032.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $60.62, for a total transaction of $60,620.00. The disclosure for this sale can be found here. Insiders have sold 35,633 shares of company stock worth $2,879,445 over the last three months. 8.19% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. increased its holdings in Applied Optoelectronics by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,937 shares of the semiconductor company’s stock worth $614,000 after buying an additional 26 shares during the last quarter. Legal & General Group Plc increased its holdings in Applied Optoelectronics by 3.6% during the first quarter. Legal & General Group Plc now owns 4,412 shares of the semiconductor company’s stock worth $248,000 after buying an additional 153 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Applied Optoelectronics by 7.9% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,100 shares of the semiconductor company’s stock worth $253,000 after buying an additional 300 shares during the last quarter. Nationwide Fund Advisors increased its holdings in Applied Optoelectronics by 3.1% during the first quarter. Nationwide Fund Advisors now owns 10,566 shares of the semiconductor company’s stock worth $593,000 after buying an additional 315 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC increased its holdings in Applied Optoelectronics by 4.3% during the second quarter. Carnegie Capital Asset Management LLC now owns 8,920 shares of the semiconductor company’s stock worth $834,000 after buying an additional 370 shares during the last quarter. Institutional investors and hedge funds own 81.59% of the company’s stock.

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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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