BidaskClub Downgrades Applied Optoelectronics (AAOI) to Strong Sell
Applied Optoelectronics (NASDAQ:AAOI) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.
Several other research analysts have also weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $115.00 price objective on shares of Applied Optoelectronics in a report on Tuesday, September 5th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Applied Optoelectronics in a report on Thursday, August 31st. BWS Financial reaffirmed a “sell” rating and issued a $25.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 31st. ValuEngine lowered shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Cowen reaffirmed an “outperform” rating and issued a $81.00 price target (down from $102.00) on shares of Applied Optoelectronics in a report on Friday, October 13th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and four have given a strong buy rating to the stock. Applied Optoelectronics presently has a consensus rating of “Buy” and a consensus price target of $60.20.
Applied Optoelectronics (AAOI) opened at $38.69 on Friday. The firm has a market cap of $749.90, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 0.59 and a beta of 2.88. The company has a current ratio of 2.99, a quick ratio of 2.02 and a debt-to-equity ratio of 0.12. Applied Optoelectronics has a fifty-two week low of $21.88 and a fifty-two week high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.23). The company had revenue of $88.90 million for the quarter, compared to analyst estimates of $88.53 million. Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. Applied Optoelectronics’s revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. sell-side analysts predict that Applied Optoelectronics will post 4.22 earnings per share for the current year.
In related news, CEO Chih-Hsiang (Thompson) Lin sold 1,300 shares of Applied Optoelectronics stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $45.30, for a total value of $58,890.00. Following the sale, the chief executive officer now directly owns 522,837 shares in the company, valued at approximately $23,684,516.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard B. Black sold 1,000 shares of Applied Optoelectronics stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $43.00, for a total transaction of $43,000.00. Following the completion of the sale, the director now owns 36,478 shares in the company, valued at $1,568,554. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,900 shares of company stock worth $325,374. 8.19% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. State of Tennessee Treasury Department bought a new stake in Applied Optoelectronics in the 2nd quarter valued at about $23,563,000. Robeco Institutional Asset Management B.V. bought a new stake in Applied Optoelectronics in the 2nd quarter valued at about $9,910,000. Great West Life Assurance Co. Can bought a new stake in Applied Optoelectronics in the 2nd quarter valued at about $1,583,000. LSV Asset Management lifted its position in Applied Optoelectronics by 76.4% in the 2nd quarter. LSV Asset Management now owns 82,200 shares of the semiconductor company’s stock valued at $5,079,000 after purchasing an additional 35,600 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Applied Optoelectronics by 132.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock valued at $7,614,000 after purchasing an additional 70,224 shares during the last quarter. Hedge funds and other institutional investors own 76.69% 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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