Alliance Fiber Optic Products Director Gwong Yih Lee Unloads 2,000 Shares (AFOP)
Alliance Fiber Optic Products (NASDAQ:AFOP) Director Gwong Yih Lee sold 2,000 shares of the stock on the open market in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $20.14, for a total value of $40,280.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $241,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on AFOP. Analysts at B. Riley raised their price target on shares of Alliance Fiber Optic Products from $20.00 to $22.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company LLC initiated coverage on shares of Alliance Fiber Optic Products in a research note on Tuesday, March 25th. They set a “buy” rating and a $22.00 price target on the stock. They noted that the move was a valuation call.
Alliance Fiber Optic Products (NASDAQ:AFOP) traded up 1.70% on Wednesday, hitting $20.38. 1,108,881 shares of the company’s stock traded hands. Alliance Fiber Optic Products has a 52-week low of $8.935 and a 52-week high of $23.94. The stock has a 50-day moving average of $17.89 and a 200-day moving average of $15.35. The company has a market cap of $376.4 million and a price-to-earnings ratio of 17.10.
Alliance Fiber Optic Products (NASDAQ:AFOP) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.05. The company had revenue of $24.88 million for the quarter, compared to the consensus estimate of $23.65 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 104.8% on a year-over-year basis. Analysts expect that Alliance Fiber Optic Products will post $1.32 EPS for the current fiscal year.
Alliance Fiber Optic Products Inc (NASDAQ:AFOP) designs, manufactures and markets a range of fiber optic components, and integrated modules incorporating these components, for communications equipment manufacturers and service providers.
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