Applied Optoelectronics (AAOI) Rating Lowered to Buy at Needham & Company LLC

Applied Optoelectronics (NASDAQ:AAOI) was downgraded by equities research analysts at Needham & Company LLC from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, The Fly reports. The analysts noted that the move was a valuation call.

Several other equities analysts have also commented on AAOI. Loop Capital reiterated a “hold” rating and issued a $45.00 target price on shares of Applied Optoelectronics in a research note on Wednesday. Piper Jaffray Companies reiterated a “hold” rating and issued a $43.00 target price on shares of Applied Optoelectronics in a research note on Wednesday. BidaskClub upgraded Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. ValuEngine upgraded Applied Optoelectronics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, Zacks Investment Research lowered Applied Optoelectronics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.69.

Applied Optoelectronics stock opened at $37.23 on Wednesday. The firm has a market capitalization of $771.80 million, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 2.07 and a beta of 2.56. Applied Optoelectronics has a 52 week low of $22.54 and a 52 week high of $74.43. The company has a quick ratio of 2.14, a current ratio of 3.46 and a debt-to-equity ratio of 0.18.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Tuesday, August 7th. The semiconductor company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.30. The firm had revenue of $87.82 million during the quarter, compared to analyst estimates of $77.29 million. Applied Optoelectronics had a return on equity of 20.82% and a net margin of 16.02%. research analysts predict that Applied Optoelectronics will post 1.68 EPS for the current year.

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $44.25, for a total transaction of $132,750.00. Following the completion of the sale, the chief financial officer now directly owns 67,695 shares in the company, valued at $2,995,503.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in Applied Optoelectronics by 3.2% during the second quarter. Rhumbline Advisers now owns 45,887 shares of the semiconductor company’s stock worth $2,060,000 after acquiring an additional 1,418 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Applied Optoelectronics by 29.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the semiconductor company’s stock worth $195,000 after acquiring an additional 1,744 shares during the last quarter. Swiss National Bank increased its stake in Applied Optoelectronics by 6.0% during the first quarter. Swiss National Bank now owns 32,000 shares of the semiconductor company’s stock worth $802,000 after acquiring an additional 1,800 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Applied Optoelectronics by 6.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 50,685 shares of the semiconductor company’s stock worth $2,276,000 after acquiring an additional 3,069 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Applied Optoelectronics by 49.4% during the first quarter. OppenheimerFunds Inc. now owns 9,552 shares of the semiconductor company’s stock worth $239,000 after acquiring an additional 3,158 shares during the last quarter. Institutional investors own 67.56% of the company’s stock.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

See Also: Growth Stocks, What They Are, What They Are Not

The Fly

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