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.

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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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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