Applied Optoelectronics (AAOI) Lifted to Hold at Zacks Investment Research

Applied Optoelectronics (NASDAQ:AAOI) was upgraded by Zacks Investment Research from a “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 research analysts also recently weighed in on the company. BidaskClub upgraded Applied Optoelectronics from a “strong sell” rating to a “sell” rating in a report on Monday. ValuEngine downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Loop Capital began coverage on Applied Optoelectronics in a report on Monday, January 29th. They issued a “hold” rating and a $35.00 price target for the company. Piper Jaffray Companies downgraded Applied Optoelectronics from an “overweight” rating to a “neutral” rating in a report on Monday, January 29th. Finally, B. Riley began coverage on Applied Optoelectronics in a report on Wednesday, January 10th. They issued a “neutral” rating and a $38.00 price target for the company. Four research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $55.89.

Shares of Applied Optoelectronics (AAOI) traded down $1.89 on Wednesday, reaching $31.53. The company’s stock had a trading volume of 2,217,756 shares, compared to its average volume of 1,120,000. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 2.02. The firm has a market cap of $611.12, a P/E ratio of 7.53, a PEG ratio of 0.65 and a beta of 2.51. Applied Optoelectronics has a 52 week low of $30.68 and a 52 week high of $103.41.

In other news, Director Richard B. Black sold 1,000 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $35.37, for a total transaction of $35,370.00. Following the completion of the sale, the director now directly owns 34,478 shares in the company, valued at approximately $1,219,486.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan D. Moore acquired 22,400 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $44.60 per share, with a total value of $999,040.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 7,900 shares of company stock valued at $340,554. Insiders own 8.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC increased its holdings in Applied Optoelectronics by 1,067.8% in the 4th quarter. LS Investment Advisors LLC now owns 7,357 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 6,727 shares in the last quarter. Sterneck Capital Management LLC increased its holdings in Applied Optoelectronics by 60.0% in the 4th quarter. Sterneck Capital Management LLC now owns 8,000 shares of the semiconductor company’s stock valued at $303,000 after purchasing an additional 3,000 shares in the last quarter. California Public Employees Retirement System increased its holdings in Applied Optoelectronics by 6.7% in the 4th quarter. California Public Employees Retirement System now owns 54,234 shares of the semiconductor company’s stock valued at $2,051,000 after purchasing an additional 3,427 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Applied Optoelectronics in the 4th quarter valued at $232,000. Finally, Crossmark Global Holdings Inc. increased its holdings in Applied Optoelectronics by 289.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 14,490 shares of the semiconductor company’s stock valued at $548,000 after purchasing an additional 10,770 shares in the last quarter. Hedge funds and other institutional investors own 75.68% 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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