Applied Optoelectronics, Inc. (AAOI) Given Consensus Rating of “Buy” by Brokerages
Applied Optoelectronics, Inc. (NASDAQ:AAOI) has been given an average rating of “Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and four have given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $69.23.
Several research analysts recently issued reports on the company. Needham & Company LLC reduced their target price on Applied Optoelectronics from $115.00 to $75.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 13th. Vetr raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating and set a $76.81 target price on the stock in a research report on Wednesday, August 9th. BidaskClub lowered Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Cowen and Company reissued an “outperform” rating and issued a $100.00 price objective (up from $94.00) on shares of Applied Optoelectronics in a report on Friday, July 14th. Finally, BWS Financial reissued a “sell” rating and issued a $25.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 31st.
Applied Optoelectronics (NASDAQ AAOI) traded down 4.33% during midday trading on Thursday, reaching $38.68. The company had a trading volume of 1,825,475 shares. The firm has a 50-day moving average of $56.36 and a 200 day moving average of $63.43. The company has a market capitalization of $746.64 million, a P/E ratio of 9.19 and a beta of 3.06. Applied Optoelectronics has a 1-year low of $18.85 and a 1-year high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last announced its 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 company had revenue of $117.40 million for the quarter, compared to analyst estimates of $117.34 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s quarterly revenue was up 112.3% compared to the same quarter last year. On average, equities research analysts forecast that Applied Optoelectronics will post $4.62 EPS for the current year.
In other news, General Counsel David C. Kuo sold 578 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $96.47, for a total value of $55,759.66. Following the sale, the general counsel now owns 23,753 shares in the company, valued at $2,291,451.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard B. Black sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $60.62, for a total value of $60,620.00. The disclosure for this sale can be found here. Insiders sold 14,517 shares of company stock worth $923,370 in the last 90 days. Company insiders own 8.19% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AAOI. State Board of Administration of Florida Retirement System purchased a new stake in shares of Applied Optoelectronics in the first quarter worth about $296,000. Bank of New York Mellon Corp boosted its stake in shares of Applied Optoelectronics by 28.4% in the first quarter. Bank of New York Mellon Corp now owns 111,387 shares of the semiconductor company’s stock worth $6,254,000 after buying an additional 24,630 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Applied Optoelectronics by 179.8% in the first quarter. Parametric Portfolio Associates LLC now owns 31,042 shares of the semiconductor company’s stock worth $1,743,000 after buying an additional 19,949 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Applied Optoelectronics in the first quarter worth about $196,000. Finally, American International Group Inc. boosted its stake in shares of Applied Optoelectronics by 7.1% in the first quarter. American International Group Inc. now owns 10,158 shares of the semiconductor company’s stock worth $570,000 after buying an additional 673 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.
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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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