Craig Hallum Reaffirms “Buy” Rating for Applied Optoelectronics, Inc. (AAOI)
Craig Hallum restated their buy rating on shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) in a research note released on Tuesday morning. They currently have a $80.00 price objective on the semiconductor company’s stock, down from their prior price objective of $95.00.
A number of other equities analysts also recently weighed in on the company. BWS Financial reiterated a sell rating on shares of Applied Optoelectronics in a report on Monday. Zacks Investment Research downgraded Applied Optoelectronics from a strong-buy rating to a hold rating in a report on Tuesday, September 12th. Needham & Company LLC reiterated a buy rating and issued a $115.00 target price on shares of Applied Optoelectronics in a report on Tuesday, September 5th. ValuEngine downgraded Applied Optoelectronics from a strong-buy rating to a buy rating in a report on Friday, September 1st. Finally, Raymond James Financial, Inc. reiterated a strong-buy rating on shares of Applied Optoelectronics in a report on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $80.98.
Shares of Applied Optoelectronics (AAOI) opened at 56.99 on Tuesday. The company has a 50-day moving average of $61.30 and a 200-day moving average of $63.72. The stock has a market capitalization of $1.10 billion, a P/E ratio of 13.54 and a beta of 3.06. Applied Optoelectronics has a 12-month low of $18.85 and a 12-month high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.28. The company had revenue of $117.40 million during the quarter, compared to analyst estimates of $117.34 million. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The business’s quarterly revenue was up 112.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. Equities analysts expect that Applied Optoelectronics will post $5.32 earnings per share for the current fiscal year.
In other news, insider Shu-Hua (Joshua) Yeh sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $92.51, for a total value of $1,850,200.00. Following the completion of the sale, the insider now directly owns 89,742 shares of the company’s stock, valued at $8,302,032.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chewei Lin sold 7,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $58.00, for a total value of $406,000.00. Following the completion of the sale, the director now directly owns 45,638 shares of the company’s stock, valued at $2,647,004. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,633 shares of company stock worth $2,818,825. Corporate insiders own 8.19% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC boosted its position in shares of Applied Optoelectronics by 20.5% in the second quarter. Lord Abbett & CO. LLC now owns 213,020 shares of the semiconductor company’s stock valued at $13,163,000 after acquiring an additional 36,182 shares during the period. Navellier & Associates Inc bought a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $1,288,000. Advisory Services Network LLC bought a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $137,000. Public Employees Retirement System of Ohio boosted its position in shares of Applied Optoelectronics by 132.5% in the second quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock valued at $7,614,000 after acquiring an additional 70,224 shares during the period. Finally, Sterneck Capital Management LLC bought a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $247,000. 81.63% of the stock is owned by institutional investors.
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.
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