Applied Optoelectronics, Inc. (AAOI) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) from a hold rating to a buy rating in a report issued on Wednesday.
AAOI has been the topic of several other reports. Cowen and Company upped their price objective on shares of Applied Optoelectronics from $75.00 to $94.00 and gave the company an outperform rating in a report on Friday, May 5th. Vetr upgraded shares of Applied Optoelectronics from a buy rating to a strong-buy rating and set a $74.42 target price for the company in a research note on Monday, June 12th. Needham & Company LLC began coverage on shares of Applied Optoelectronics in a research report on Monday, May 22nd. They set a strong-buy rating and a $85.00 price objective for the company. Vertical Research restated a sell rating on shares of Applied Optoelectronics in a research report on Thursday, March 30th. Finally, ValuEngine upgraded shares of Applied Optoelectronics from a hold rating to a buy rating in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $78.97.
Applied Optoelectronics (NASDAQ AAOI) opened at 84.20 on Wednesday. The stock has a market cap of $1.60 billion, a PE ratio of 29.67 and a beta of 2.85. The company’s 50 day moving average is $65.96 and its 200 day moving average is $46.42. Applied Optoelectronics has a 12 month low of $11.38 and a 12 month high of $86.36. Applied Optoelectronics also was the recipient of unusually large options trading activity on Friday. Stock investors purchased 9,719 call options on the company. This is an increase of approximately 143% compared to the average volume of 3,995 call options.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. The firm had revenue of $96.20 million for the quarter, compared to the consensus estimate of $96.20 million. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. The company’s quarterly revenue was up 90.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, analysts anticipate that Applied Optoelectronics will post $5.01 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This report was first posted by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.watchlistnews.com/applied-optoelectronics-inc-aaoi-lifted-to-buy-at-bidaskclub/1445070.html.
In other Applied Optoelectronics news, Director William H. Yeh sold 30,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $72.12, for a total transaction of $2,163,600.00. Following the sale, the director now directly owns 71,167 shares in the company, valued at approximately $5,132,564.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hung-Lun (Fred) Chang sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $59.50, for a total transaction of $595,000.00. Following the sale, the insider now owns 46,054 shares in the company, valued at $2,740,213. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,048 shares of company stock worth $7,713,586. Insiders own 8.19% of the company’s stock.
Large investors have recently modified their holdings of the company. Capstone Asset Management Co. purchased a new position in Applied Optoelectronics during the second quarter valued at about $203,000. SG Americas Securities LLC purchased a new position in shares of Applied Optoelectronics during the first quarter valued at $196,000. State of Alaska Department of Revenue purchased a new position in shares of Applied Optoelectronics during the second quarter valued at $215,000. 361 Capital LLC purchased a new position in shares of Applied Optoelectronics during the first quarter valued at $208,000. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Applied Optoelectronics during the first quarter valued at $213,000. Institutional investors own 78.42% 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.
Receive News & Ratings for Applied Optoelectronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.