Applied Optoelectronics (NASDAQ:AAOI) Stock Rating Lowered by Zacks Investment Research

Applied Optoelectronics (NASDAQ:AAOI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, February 28th.

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. “

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A number of other equities analysts also recently issued reports on the company. Cowen reiterated a “buy” rating and set a $60.00 price target (down previously from $74.00) on shares of Applied Optoelectronics in a research report on Thursday, December 7th. Needham & Company LLC reduced their target price on Applied Optoelectronics from $75.00 to $50.00 and set a “strong-buy” rating for the company in a report on Wednesday, November 8th. Loop Capital started coverage on Applied Optoelectronics in a report on Monday, January 29th. They set a “hold” rating and a $35.00 target price for the company. BidaskClub cut Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a report on Saturday, December 9th. Finally, ValuEngine cut Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. Applied Optoelectronics presently has an average rating of “Hold” and a consensus price target of $48.03.

Shares of Applied Optoelectronics stock traded down $0.60 during mid-day trading on Wednesday, reaching $25.36. The company’s stock had a trading volume of 1,123,201 shares, compared to its average volume of 1,438,603. The stock has a market capitalization of $494.55, a P/E ratio of 6.93, a P/E/G ratio of 0.94 and a beta of 2.58. The company has a quick ratio of 2.18, a current ratio of 3.25 and a debt-to-equity ratio of 0.15. Applied Optoelectronics has a 52 week low of $25.23 and a 52 week high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $79.86 million for the quarter, compared to the consensus estimate of $86.22 million. Applied Optoelectronics had a return on equity of 30.08% and a net margin of 19.34%. equities research analysts anticipate that Applied Optoelectronics will post 1.88 EPS for the current year.

In related news, Director Richard B. Black sold 1,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $35.37, for a total value of $35,370.00. Following the completion of the sale, the director now owns 34,478 shares of the company’s stock, valued at $1,219,486.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.19% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the stock. New York State Teachers Retirement System increased its holdings in shares of Applied Optoelectronics by 11.2% in the third quarter. New York State Teachers Retirement System now owns 13,900 shares of the semiconductor company’s stock valued at $899,000 after purchasing an additional 1,400 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Applied Optoelectronics by 11.1% during the second quarter. The Manufacturers Life Insurance Company now owns 14,671 shares of the semiconductor company’s stock worth $907,000 after acquiring an additional 1,461 shares during the last quarter. Comerica Bank increased its stake in Applied Optoelectronics by 9.4% during the third quarter. Comerica Bank now owns 20,309 shares of the semiconductor company’s stock worth $855,000 after acquiring an additional 1,737 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Applied Optoelectronics by 27.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,488 shares of the semiconductor company’s stock worth $548,000 after acquiring an additional 1,838 shares during the last quarter. Finally, Resources Investment Advisors Inc. increased its stake in Applied Optoelectronics by 218.5% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,796 shares of the semiconductor company’s stock worth $106,000 after acquiring an additional 1,918 shares during the last quarter. 61.71% of the stock is owned by hedge funds and other institutional investors.

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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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