Applied Optoelectronics (NASDAQ:AAOI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Applied Optoelectronics, Inc. designs, develops and manufactures advanced optical devices, packaged optical components, optical subsystems, laser transmitters and fiber optic transceivers. The company’s products are used in fiber optic communications equipment for FTTH, point-to-point telecom, datacom and access networks and systems supporting cable television, network infrastructure. Applied Optoelectronics, Inc. is headquartered in Sugar Land, Texas. “

Several other brokerages also recently commented on AAOI. BWS Financial set a $25.00 target price on shares of Applied Optoelectronics and gave the stock a “sell” rating in a report on Sunday, October 15th. Needham & Company LLC reduced their target price on shares of Applied Optoelectronics from $75.00 to $50.00 and set a “strong-buy” rating for the company in a report on Wednesday, November 8th. TheStreet downgraded shares of Applied Optoelectronics from a “b-” rating to a “c” rating in a report on Wednesday, November 15th. ValuEngine downgraded shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Craig Hallum reaffirmed a “buy” rating and set a $80.00 target price (down previously from $95.00) on shares of Applied Optoelectronics in a report on Tuesday, October 3rd. Four investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $60.20.

Shares of Applied Optoelectronics (NASDAQ AAOI) traded up $0.20 on Wednesday, hitting $40.35. 885,973 shares of the stock were exchanged, compared to its average volume of 2,561,532. Applied Optoelectronics has a 52 week low of $21.88 and a 52 week high of $103.41. The company has a market cap of $785.37, a P/E ratio of 9.62, a PEG ratio of 0.62 and a beta of 2.88. The company has a current ratio of 2.99, a quick ratio of 2.02 and a debt-to-equity ratio of 0.12.

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

In other Applied Optoelectronics news, Director Richard B. Black sold 1,000 shares of Applied Optoelectronics stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $43.00, for a total value of $43,000.00. Following the completion of the sale, the director now owns 36,478 shares in the company, valued at approximately $1,568,554. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chih-Hsiang (Thompson) Lin sold 1,300 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $45.30, for a total transaction of $58,890.00. Following the completion of the transaction, the chief executive officer now owns 522,837 shares of the company’s stock, valued at $23,684,516.10. The disclosure for this sale can be found here. Insiders sold a total of 7,900 shares of company stock valued at $365,804 in the last quarter. Corporate insiders own 8.19% of the company’s stock.

Several large investors have recently modified their holdings of AAOI. BlackRock Inc. grew its holdings in shares of Applied Optoelectronics by 86.8% during the 2nd quarter. BlackRock Inc. now owns 2,093,297 shares of the semiconductor company’s stock valued at $129,346,000 after purchasing an additional 972,428 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Applied Optoelectronics by 49.8% during the 2nd quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock valued at $58,917,000 after purchasing an additional 317,033 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in shares of Applied Optoelectronics by 113.9% during the 3rd quarter. State of Tennessee Treasury Department now owns 815,552 shares of the semiconductor company’s stock valued at $52,742,000 after purchasing an additional 434,207 shares during the last quarter. FMR LLC bought a new stake in shares of Applied Optoelectronics during the 2nd quarter valued at approximately $45,101,000. Finally, Balyasny Asset Management LLC bought a new stake in shares of Applied Optoelectronics during the 2nd quarter valued at approximately $44,798,000. Institutional investors own 76.69% 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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