Applied Optoelectronics, Inc. (AAOI) Rating Reiterated by Raymond James Financial, Inc.
Other analysts also recently issued reports about the company. Vetr downgraded Applied Optoelectronics from a strong-buy rating to a buy rating and set a $68.41 price objective for the company. in a report on Tuesday, May 9th. Roth Capital restated a buy rating and issued a $70.00 price objective (up from $60.00) on shares of Applied Optoelectronics in a report on Friday, May 5th. ValuEngine upgraded Applied Optoelectronics from a hold rating to a buy rating in a report on Thursday, May 18th. DA Davidson started coverage on Applied Optoelectronics in a report on Thursday, June 29th. They issued a buy rating and a $95.00 price objective for the company. Finally, BidaskClub upgraded Applied Optoelectronics from a hold rating to a buy rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $80.64.
Applied Optoelectronics (AAOI) traded down 1.21% during mid-day trading on Tuesday, hitting $96.64. 2,629,680 shares of the stock were exchanged. The stock has a 50 day moving average of $72.99 and a 200-day moving average of $54.45. Applied Optoelectronics has a 52-week low of $11.60 and a 52-week high of $103.41. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 34.05 and a beta of 2.84.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.09. The firm had revenue of $96.20 million during the quarter, compared to the consensus estimate of $96.20 million. Applied Optoelectronics had a return on equity of 23.75% and a net margin of 17.08%. The firm’s quarterly revenue was up 90.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share. Equities analysts predict that Applied Optoelectronics will post $5.01 EPS for the current fiscal year.
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In other Applied Optoelectronics news, insider Hung-Lun (Fred) Chang sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $59.50, for a total value of $595,000.00. Following the transaction, the insider now owns 46,054 shares in the company, valued at $2,740,213. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David C. Kuo sold 1,116 shares of Applied Optoelectronics stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $94.87, for a total value of $105,874.92. Following the completion of the transaction, the general counsel now owns 25,041 shares in the company, valued at approximately $2,375,639.67. The disclosure for this sale can be found here. Insiders sold 138,164 shares of company stock worth $9,669,661 in the last quarter. 8.19% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Bourne Lent Asset Management Inc. bought a new position in Applied Optoelectronics during the first quarter valued at about $399,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Applied Optoelectronics during the first quarter worth $213,000. Nationwide Fund Advisors raised its stake in shares of Applied Optoelectronics by 3.1% in 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. Telemus Capital LLC acquired a new stake in shares of Applied Optoelectronics during the first quarter worth $618,000. Finally, Sheets Smith Wealth Management acquired a new stake in shares of Applied Optoelectronics during the first quarter worth $536,000. Institutional investors own 78.68% 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.
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