Applied Optoelectronics, Inc. (NASDAQ:AAOI) Downgraded to “Buy” at BidaskClub
BidaskClub lowered shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) from a strong-buy rating to a buy rating in a report published on Tuesday morning.
A number of other research firms have also issued reports on AAOI. Cowen and Company increased their target price on Applied Optoelectronics from $75.00 to $94.00 and gave the company an outperform rating in a report on Friday, May 5th. Vetr lowered Applied Optoelectronics from a strong-buy rating to a buy rating and set a $84.73 target price for the company. in a report on Friday, July 14th. Needham & Company LLC started coverage on Applied Optoelectronics in a report on Monday, May 22nd. They issued a strong-buy rating and a $85.00 target price for the company. BWS Financial restated a sell rating and issued a $25.00 target price on shares of Applied Optoelectronics in a report on Saturday, July 22nd. Finally, Vertical Research restated a sell rating on shares of Applied Optoelectronics in a report on Thursday, March 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. Applied Optoelectronics has a consensus rating of Buy and a consensus price target of $80.64.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded down 1.21% during midday trading on Tuesday, hitting $96.64. The stock had a trading volume of 2,629,680 shares. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 34.05 and a beta of 2.84. Applied Optoelectronics has a 12-month low of $11.60 and a 12-month high of $103.41. The company’s 50-day moving average price is $72.99 and its 200-day moving average price is $54.45.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Applied Optoelectronics had a return on equity of 23.75% and a net margin of 17.08%. The company had revenue of $96.20 million during the quarter, compared to the consensus estimate of $96.20 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company’s quarterly revenue was up 90.9% compared to the same quarter last year. Equities research analysts forecast that Applied Optoelectronics will post $5.01 EPS for the current year.
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In related news, Director Chewei Lin sold 22,500 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $1,462,500.00. Following the completion of the sale, the director now directly owns 74,017 shares in the company, valued at $4,811,105. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel David C. Kuo sold 507 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $70.00, for a total value of $35,490.00. Following the sale, the general counsel now owns 26,307 shares of the company’s stock, valued at $1,841,490. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,164 shares of company stock valued at $9,669,661. 8.19% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Applied Optoelectronics during the first quarter valued at about $196,000. Capstone Asset Management Co. purchased a new stake in shares of Applied Optoelectronics during the second quarter valued at about $203,000. 361 Capital LLC purchased a new stake in shares of Applied Optoelectronics during the first quarter valued at about $208,000. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in shares of Applied Optoelectronics during the first quarter valued at about $213,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Applied Optoelectronics during the second quarter valued at about $215,000. Institutional investors and hedge funds 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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