Applied Optoelectronics (NASDAQ:AAOI)‘s stock had its “buy” rating reaffirmed by investment analysts at Cowen in a research report issued to clients and investors on Thursday. They currently have a $60.00 target price on the semiconductor company’s stock, down from their previous target price of $74.00. Cowen’s price target indicates a potential upside of 47.28% from the company’s previous close.

A number of other brokerages have also recently issued reports on AAOI. Roth Capital reiterated a “buy” rating and set a $90.00 target price on shares of Applied Optoelectronics in a report on Thursday, August 10th. Vetr upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating and set a $76.81 target price for the company in a report on Wednesday, August 9th. BWS Financial set a $25.00 target price on Applied Optoelectronics and gave the stock a “sell” rating in a report on Wednesday, August 16th. Craig Hallum restated a “buy” rating and issued a $80.00 price target (down previously from $95.00) on shares of Applied Optoelectronics in a report on Tuesday, October 3rd. Finally, Needham & Company LLC restated a “strong-buy” rating and issued a $75.00 price target (down previously from $115.00) on shares of Applied Optoelectronics in a report on Thursday, October 12th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and four have assigned a strong buy rating to the stock. Applied Optoelectronics currently has an average rating of “Buy” and an average target price of $60.20.

Shares of Applied Optoelectronics (NASDAQ AAOI) traded down $1.72 during mid-day trading on Thursday, reaching $40.74. 1,071,100 shares of the company traded hands, compared to its average volume of 2,582,088. Applied Optoelectronics has a 12-month low of $21.88 and a 12-month high of $103.41. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The firm has a market cap of $822.97, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 0.59 and a beta of 2.88.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.23). Applied Optoelectronics had a net margin of 21.29% and a return on equity of 32.35%. The company had revenue of $88.90 million for the quarter, compared to analyst estimates of $88.53 million. During the same period in the prior year, the company earned $0.38 EPS. The company’s revenue was up 26.8% compared to the same quarter last year. sell-side analysts predict that Applied Optoelectronics will post 4.22 EPS for the current year.

In other news, Director Richard B. Black sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $60.62, for a total transaction of $60,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chewei Lin sold 7,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $58.00, for a total value of $406,000.00. Following the transaction, the director now owns 45,638 shares of the company’s stock, valued at $2,647,004. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,900 shares of company stock valued at $731,374. Company insiders own 8.19% of the company’s stock.

Several hedge funds have recently bought and sold shares of AAOI. Flinton Capital Management LLC acquired a new stake in Applied Optoelectronics in the second quarter worth $115,000. Citigroup Inc. grew its stake in shares of Applied Optoelectronics by 96.2% in 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 in the last quarter. Advisory Services Network LLC bought a new position in shares of Applied Optoelectronics in the second quarter worth $137,000. Pinebridge Investments L.P. bought a new position in shares of Applied Optoelectronics in the second quarter worth $144,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Applied Optoelectronics in the second quarter worth $149,000. 76.69% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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