Applied Optoelectronics, Inc. (NASDAQ:AAOI) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They currently have a $72.50 price objective on the semiconductor company’s stock. Vetr‘s price objective indicates a potential upside of 4.03% from the stock’s current price.

A number of other equities research analysts also recently commented on AAOI. Northland Securities downgraded Applied Optoelectronics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $47.00 to $43.00 in a research report on Friday. ValuEngine downgraded Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. DA Davidson set a $103.00 price objective on Applied Optoelectronics and gave the company a “buy” rating in a research report on Saturday. Finally, Cowen and Company reiterated an “outperform” rating and set a $100.00 price objective (up previously from $94.00) on shares of Applied Optoelectronics in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, seven have issued a buy rating and five have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $76.35.

Applied Optoelectronics (NASDAQ AAOI) traded up 7.88% during mid-day trading on Monday, hitting $69.69. The stock had a trading volume of 10,880,540 shares. Applied Optoelectronics has a 12-month low of $11.67 and a 12-month high of $103.41. The company has a 50-day moving average of $74.92 and a 200-day moving average of $55.92. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 24.56 and a beta of 2.98. Applied Optoelectronics also saw some unusual options trading on Friday. Investors bought 18,051 call options on the company. This represents an increase of approximately 250% compared to the typical volume of 5,155 call options.

Applied Optoelectronics (NASDAQ:AAOI) last announced 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. 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 the consensus estimate of $117.34 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s quarterly revenue was up 112.3% compared to the same quarter last year. On average, analysts anticipate that Applied Optoelectronics will post $5.30 earnings per share for the current fiscal year.

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In other news, General Counsel David C. Kuo sold 578 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $96.47, for a total value of $55,759.66. Following the completion of the sale, the general counsel now owns 23,753 shares in the company, valued at $2,291,451.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Yeh sold 30,000 shares of the 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 completion of the sale, the director now owns 71,167 shares of the company’s stock, valued at approximately $5,132,564.04. The disclosure for this sale can be found here. Insiders sold 138,742 shares of company stock valued at $9,725,420 in the last 90 days. Corporate insiders own 8.19% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in Applied Optoelectronics by 195.2% in the first quarter. Renaissance Technologies LLC now owns 514,000 shares of the semiconductor company’s stock worth $28,861,000 after buying an additional 339,900 shares during the period. Ameriprise Financial Inc. increased its position in Applied Optoelectronics by 21.8% in the first quarter. Ameriprise Financial Inc. now owns 115,735 shares of the semiconductor company’s stock worth $6,498,000 after buying an additional 20,695 shares during the period. Bourne Lent Asset Management Inc. increased its position in Applied Optoelectronics by 21.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 8,650 shares of the semiconductor company’s stock worth $534,000 after buying an additional 1,550 shares during the period. Morgan Stanley increased its position in Applied Optoelectronics by 245.9% in the first quarter. Morgan Stanley now owns 521,051 shares of the semiconductor company’s stock worth $29,257,000 after buying an additional 370,427 shares during the period. Finally, State Street Corp increased its position in Applied Optoelectronics by 5.9% in the fourth quarter. State Street Corp now owns 262,066 shares of the semiconductor company’s stock worth $6,143,000 after buying an additional 14,484 shares during the period. 77.36% of the stock is currently owned by institutional investors and hedge funds.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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