Applied Optoelectronics, Inc. (AAOI) PT Set at $47.00 by Northland Securities
Applied Optoelectronics, Inc. (NASDAQ:AAOI) received a $47.00 price target from investment analysts at Northland Securities in a research report issued on Monday. The firm currently has a “sell” rating on the semiconductor company’s stock. Northland Securities’ price target indicates a potential downside of 27.24% from the company’s previous close.
A number of other research analysts have also weighed in on the company. DA Davidson set a $103.00 price objective on Applied Optoelectronics and gave the company a “buy” rating in a research report on Saturday. ValuEngine raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Friday. BidaskClub raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Raymond James Financial, Inc. reissued a “strong-buy” rating on shares of Applied Optoelectronics in a report on Tuesday, July 25th. Finally, Needham & Company LLC lifted their target price on Applied Optoelectronics from $100.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Monday, July 24th. Three analysts have rated the stock with a sell rating, seven have issued a buy rating and five have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $77.57.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded up 10.1426% during mid-day trading on Monday, reaching $71.1521. The company’s stock had a trading volume of 5,732,620 shares. Applied Optoelectronics has a 12 month low of $11.67 and a 12 month high of $103.41. The firm has a market cap of $1.35 billion, a PE ratio of 25.0712 and a beta of 2.98. The company has a 50-day moving average of $74.92 and a 200-day moving average of $55.92. Applied Optoelectronics also saw some unusual options trading on Friday. Traders acquired 18,051 call options on the company. This is an increase of approximately 250% compared to the typical volume of 5,155 call options.
Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The company had revenue of $117.40 million during the quarter, compared to analyst estimates of $117.34 million. During the same quarter last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 112.3% on a year-over-year basis. On average, analysts predict that Applied Optoelectronics will post $5.30 earnings per share for the current year.
In related news, General Counsel David C. Kuo sold 578 shares of Applied Optoelectronics stock in a transaction on Monday, July 31st. The stock was sold at an average price of $96.47, for a total transaction of $55,759.66. Following the transaction, the general counsel now directly owns 23,753 shares in the company, valued at $2,291,451.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Yeh sold 30,000 shares of Applied Optoelectronics stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $72.12, for a total value of $2,163,600.00. Following the transaction, the director now owns 71,167 shares in the company, valued at $5,132,564.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,742 shares of company stock worth $9,725,420. Company insiders own 8.19% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Applied Optoelectronics during the first quarter valued at about $196,000. Capstone Asset Management Co. bought a new position in shares of Applied Optoelectronics during the second quarter valued at about $203,000. 361 Capital LLC bought a new position in shares of Applied Optoelectronics during the first quarter valued at about $208,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in shares of Applied Optoelectronics during the first quarter valued at about $213,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Applied Optoelectronics during the second quarter valued at about $215,000. Institutional investors own 77.36% of the company’s stock.
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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