Alliance Fiber Optic Products Director Sells $41,960 in Stock (AFOP)
Alliance Fiber Optic Products (NASDAQ:AFOP) Director Gwong Yih Lee unloaded 2,000 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $20.98, for a total transaction of $41,960.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $209,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 down 9.10% on Friday, hitting $20.28. 1,514,864 shares of the company’s stock traded hands. Alliance Fiber Optic Products has a 52-week low of $9.125 and a 52-week high of $23.94. The stock has a 50-day moving average of $18.86 and a 200-day moving average of $15.61. The company has a market cap of $374.6 million and a price-to-earnings ratio of 19.04.
Alliance Fiber Optic Products (NASDAQ:AFOP) last announced its earnings results on Thursday, April 24th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.12 earnings per share. Alliance Fiber Optic Products’s revenue was up 104.8% compared to the same quarter last year. On average, analysts predict that Alliance Fiber Optic Products will post $1.32 earnings per share 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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