Applied Optoelectronics (AAOI) PT Set at $32.00 by Craig Hallum

Applied Optoelectronics (NASDAQ:AAOI) received a $32.00 price target from stock analysts at Craig Hallum in a research note issued on Tuesday. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Craig Hallum’s target price suggests a potential upside of 5.79% from the company’s current price.

A number of other research firms also recently issued reports on AAOI. ValuEngine raised shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 14th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $51.00 price objective on shares of Applied Optoelectronics in a report on Friday, November 10th. TheStreet downgraded shares of Applied Optoelectronics from a “b-” rating to a “c” rating in a report on Wednesday, November 15th. Zacks Investment Research downgraded shares of Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 17th. Finally, Cowen reaffirmed a “buy” rating and set a $60.00 price objective (down from $74.00) on shares of Applied Optoelectronics in a report on Thursday, December 7th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.53.

Applied Optoelectronics (NASDAQ AAOI) traded down $0.47 on Tuesday, reaching $30.25. 1,524,200 shares of the company’s stock were exchanged, compared to its average volume of 1,212,251. 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 stock has a market cap of $565.18, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 0.61 and a beta of 2.51. Applied Optoelectronics has a 1 year low of $28.56 and a 1 year high of $103.41.

In related news, CEO Chih-Hsiang (Thompson) Lin sold 1,300 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $45.30, for a total value of $58,890.00. Following the transaction, the chief executive officer now directly owns 522,837 shares of the company’s stock, valued at approximately $23,684,516.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard B. Black sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 34,478 shares in the company, valued at $1,219,486.86. The disclosure for this sale can be found here. Insiders sold a total of 6,900 shares of company stock worth $297,554 over the last three months. 8.19% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Flinton Capital Management LLC purchased a new stake in Applied Optoelectronics during the second quarter valued at about $115,000. Citigroup Inc. lifted its holdings in 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 during the last quarter. Advisory Services Network LLC purchased a new stake in Applied Optoelectronics during the second quarter valued at about $137,000. PNC Financial Services Group Inc. purchased a new stake in Applied Optoelectronics during the second quarter valued at about $149,000. Finally, Advisor Group Inc. lifted its holdings in Applied Optoelectronics by 82.3% during the second quarter. Advisor Group Inc. now owns 2,505 shares of the semiconductor company’s stock valued at $155,000 after purchasing an additional 1,131 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This report was reported by American Banking News and is owned by of American Banking News. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/02/13/craig-hallum-reaffirms-in-line-rating-for-applied-optoelectronics-aaoi.html.

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)

Receive News & Ratings for Applied Optoelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply