Applied Optoelectronics Inc. (AAOI) Raised to Buy at TheStreet
Applied Optoelectronics Inc. (NASDAQ:AAOI) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Applied Optoelectronics from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Thursday, September 8th. Roth Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of Applied Optoelectronics in a research note on Thursday, September 8th. Finally, Craig Hallum upped their price target on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Seven research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $24.00.
Shares of Applied Optoelectronics (NASDAQ:AAOI) opened at 22.72 on Monday. The stock has a market capitalization of $389.42 million, a PE ratio of 83.84 and a beta of 2.29. The stock has a 50 day moving average of $19.47 and a 200 day moving average of $13.82. Applied Optoelectronics has a 52-week low of $8.08 and a 52-week high of $24.18.
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Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.10. The company had revenue of $55.30 million for the quarter, compared to the consensus estimate of $50.84 million. Applied Optoelectronics had a net margin of 2.16% and a return on equity of 6.01%. Applied Optoelectronics’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Analysts forecast that Applied Optoelectronics will post $0.71 earnings per share for the current year.
In other news, CFO Stefan J. Murry sold 3,660 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $19.05, for a total value of $69,723.00. Following the transaction, the chief financial officer now directly owns 35,093 shares in the company, valued at $668,521.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.19% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AAOI. American International Group Inc. boosted its position in Applied Optoelectronics by 5.7% in the second quarter. American International Group Inc. now owns 9,496 shares of the company’s stock worth $106,000 after buying an additional 515 shares during the last quarter. Blue Rock Advisors LLC bought a new position in Applied Optoelectronics during the first quarter worth approximately $164,000. Bank of Montreal Can bought a new position in Applied Optoelectronics during the second quarter worth approximately $172,000. Quantitative Systematic Strategies LLC boosted its position in Applied Optoelectronics by 55.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,881 shares of the company’s stock worth $165,000 after buying an additional 5,645 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Applied Optoelectronics by 6.4% in the second quarter. Marshall Wace LLP now owns 18,354 shares of the company’s stock worth $205,000 after buying an additional 1,098 shares during the last quarter. Hedge funds and other institutional investors own 78.60% of the company’s stock.
About Applied Optoelectronics
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products. The Company offers its products for approximately three networking end markets, such as Internet data center; cable television (CATV), and fiber-to-the-home (FTTH). 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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