Applied Optoelectronics Inc (AAOI) Receives Consensus Rating of “Buy” from Brokerages
Applied Optoelectronics Inc (NASDAQ:AAOI) has earned an average recommendation of “Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $57.73.
Several research firms have recently commented on AAOI. Raymond James Financial reissued a “strong-buy” rating on shares of Applied Optoelectronics in a research note on Thursday, August 31st. Zacks Investment Research cut Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 17th. BWS Financial reaffirmed a “sell” rating on shares of Applied Optoelectronics in a research note on Monday, October 2nd. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $75.00 price objective (down from $115.00) on shares of Applied Optoelectronics in a research note on Thursday, October 12th. Finally, ValuEngine raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 14th.
Applied Optoelectronics (NASDAQ AAOI) traded down $0.11 on Friday, reaching $38.98. The company’s stock had a trading volume of 1,534,326 shares, compared to its average volume of 2,547,598. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 2.02. Applied Optoelectronics has a 12-month low of $21.88 and a 12-month high of $103.41. The firm has a market cap of $782.07, a price-to-earnings ratio of 9.58, a P/E/G ratio of 0.62 and a beta of 2.88.
In other Applied Optoelectronics news, Director Richard B. Black sold 1,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $40.43, for a total transaction of $40,430.00. Following the completion of the sale, the director now directly owns 35,478 shares in the company, valued at approximately $1,434,375.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chih-Hsiang (Thompson) Lin sold 1,300 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $45.30, for a total value of $58,890.00. Following the sale, the chief executive officer now owns 522,837 shares of the company’s stock, valued at $23,684,516.10. The disclosure for this sale can be found here. Insiders have sold 7,900 shares of company stock valued at $365,804 over the last 90 days. Corporate insiders own 8.19% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $115,000. Citigroup Inc. raised its holdings in shares of Applied Optoelectronics by 96.2% in the 2nd quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 993 shares during the period. Advisory Services Network LLC bought a new stake in shares of Applied Optoelectronics in the 2nd quarter worth approximately $137,000. Pinebridge Investments L.P. bought a new stake in shares of Applied Optoelectronics in the 2nd quarter worth approximately $144,000. Finally, PNC Financial Services Group Inc. purchased a new position in Applied Optoelectronics in the 2nd quarter valued at approximately $149,000. 76.69% of the stock is currently owned by institutional investors and hedge funds.
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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