Applied Optoelectronics’ (AAOI) “Outperform” Rating Reaffirmed at Cowen and Company
Applied Optoelectronics, Inc. (NASDAQ:AAOI)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen and Company in a report released on Friday, The Fly reports. They presently have a $81.00 price target on the semiconductor company’s stock, down from their prior price target of $102.00. Cowen and Company’s price objective would indicate a potential upside of 37.66% from the stock’s previous close.
Several other research firms also recently issued reports on AAOI. Northland Securities downgraded Applied Optoelectronics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $47.00 to $43.00 in a research note on Friday, August 4th. BidaskClub raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Raymond James Financial, Inc. reissued a “strong-buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, July 25th. BWS Financial reissued a “sell” rating and issued a $25.00 price target on shares of Applied Optoelectronics in a research note on Saturday, July 22nd. Finally, Needham & Company LLC lifted their price target on Applied Optoelectronics from $100.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.20.
Applied Optoelectronics (AAOI) opened at 58.84 on Friday. The firm has a 50-day moving average price of $60.84 and a 200-day moving average price of $64.01. The stock has a market cap of $1.14 billion, a P/E ratio of 13.98 and a beta of 3.06. Applied Optoelectronics has a 52 week low of $18.85 and a 52 week high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. During the same quarter last year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 112.3% on a year-over-year basis. On average, equities research analysts predict that Applied Optoelectronics will post $5.32 EPS for the current year.
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In related news, Director Chewei Lin sold 7,000 shares of Applied Optoelectronics stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $58.00, for a total value of $406,000.00. Following the sale, the director now owns 45,638 shares of the company’s stock, valued at $2,647,004. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stefan J. Murry sold 3,050 shares of Applied Optoelectronics stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.21, for a total value of $214,140.50. Following the completion of the sale, the chief financial officer now directly owns 57,540 shares in the company, valued at approximately $4,039,883.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,633 shares of company stock worth $2,818,825. 8.19% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Flinton Capital Management LLC bought a new position in Applied Optoelectronics during the second quarter worth about $115,000. Citigroup Inc. grew its holdings in Applied Optoelectronics by 96.2% during the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 993 shares during the period. Advisory Services Network LLC bought a new position in Applied Optoelectronics during the second quarter worth about $137,000. Pinebridge Investments L.P. bought a new position in Applied Optoelectronics during the second quarter worth about $144,000. Finally, PNC Financial Services Group Inc. bought a new position in Applied Optoelectronics during the second quarter worth about $149,000. Institutional investors and hedge funds own 81.59% of the company’s stock.
Applied Optoelectronics Company Profile
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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