Vetr Inc. Lowers Applied Optoelectronics, Inc. (AAOI) to Buy
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.
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