Piper Jaffray Companies Downgrades Applied Optoelectronics (AAOI) to Neutral

Applied Optoelectronics (NASDAQ:AAOI) was downgraded by Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research report issued on Monday, MarketBeat Ratings reports.

AAOI has been the subject of a number of other reports. BWS Financial restated a “sell” rating on shares of Applied Optoelectronics in a report on Monday, October 2nd. Craig Hallum restated a “buy” rating and issued a $80.00 price target (down from $95.00) on shares of Applied Optoelectronics in a report on Tuesday, October 3rd. Needham & Company LLC restated a “strong-buy” rating and issued a $75.00 price target (down from $115.00) on shares of Applied Optoelectronics in a report on Thursday, October 12th. Cowen restated an “outperform” rating and issued a $81.00 price target (down from $102.00) on shares of Applied Optoelectronics in a report on Friday, October 13th. Finally, Northland Securities set a $40.00 price target on shares of Applied Optoelectronics and gave the stock a “sell” rating in a report on Sunday, October 15th. Five research analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and four have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.98.

Applied Optoelectronics (AAOI) traded down $2.66 on Monday, hitting $33.33. 1,724,743 shares of the stock traded hands, compared to its average volume of 1,257,014. Applied Optoelectronics has a 52 week low of $29.40 and a 52 week high of $103.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.02 and a current ratio of 2.99. The firm has a market capitalization of $646.01, a PE ratio of 7.95, a PEG ratio of 0.71 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 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.23). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The firm had revenue of $88.90 million for the quarter, compared to analyst estimates of $88.53 million. During the same quarter last year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. equities research analysts anticipate that Applied Optoelectronics will post 4.21 EPS for the current fiscal year.

In other 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 transaction of $43,000.00. Following the completion of the transaction, the director now directly owns 36,478 shares in the company, valued at $1,568,554. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chih-Hsiang (Thompson) Lin sold 1,300 shares of Applied Optoelectronics stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $45.30, for a total transaction of $58,890.00. Following 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 have sold 7,900 shares of company stock valued at $340,554 over the last quarter. Corporate insiders own 8.19% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AAOI. Flinton Capital Management LLC bought a new position in shares of Applied Optoelectronics during the second quarter valued at about $115,000. Citigroup Inc. lifted its position in shares of Applied Optoelectronics by 96.2% during the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $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 during the second quarter valued at about $137,000. Pinebridge Investments L.P. bought a new position in shares of Applied Optoelectronics during the second quarter valued at about $144,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Applied Optoelectronics during the second quarter valued at about $149,000. Hedge funds and other institutional investors own 76.05% of the company’s stock.

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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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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