Applied Optoelectronics (AAOI) Now Covered by Analysts at B. Riley

B. Riley assumed coverage on shares of Applied Optoelectronics (NASDAQ:AAOI) in a research report released on Wednesday, Marketbeat.com reports. The firm issued a neutral rating and a $38.00 price objective on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on AAOI. Zacks Investment Research downgraded Applied Optoelectronics from a strong-buy rating to a hold rating in a report on Tuesday, September 12th. BWS Financial reiterated a sell rating on shares of Applied Optoelectronics in a report on Monday, October 2nd. Craig Hallum reiterated a buy rating and set a $80.00 price objective (down from $95.00) on shares of Applied Optoelectronics in a report on Tuesday, October 3rd. Needham & Company LLC reiterated a strong-buy rating and set a $75.00 price objective (down from $115.00) on shares of Applied Optoelectronics in a report on Thursday, October 12th. Finally, Piper Jaffray Companies reiterated a buy rating and set a $63.00 price objective on shares of Applied Optoelectronics in a report on Friday, October 13th. Five investment analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $57.98.

Applied Optoelectronics (NASDAQ AAOI) traded down $0.09 during trading hours on Wednesday, hitting $35.85. The company had a trading volume of 837,330 shares, compared to its average volume of 1,170,000. 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 company has a market capitalization of $694.85, a P/E ratio of 8.56, a PEG ratio of 0.69 and a beta of 2.88. Applied Optoelectronics has a fifty-two week low of $27.82 and a fifty-two week high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.23). The firm had revenue of $88.90 million for the quarter, compared to the consensus estimate of $88.53 million. Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. research analysts anticipate that Applied Optoelectronics will post 4.21 EPS for the current year.

In other Applied Optoelectronics news, insider Chih-Hsiang (Thompson) Lin sold 3,600 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $45.24, for a total value of $162,864.00. Following the completion of the transaction, the insider now directly owns 522,837 shares in the company, valued at $23,653,145.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $40.43, for a total value of $40,430.00. Following the completion of the transaction, the director now owns 35,478 shares of the company’s stock, valued at $1,434,375.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,900 shares of company stock valued at $305,184. Corporate insiders own 8.19% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Applied Optoelectronics by 86.8% during the 2nd quarter. BlackRock Inc. now owns 2,093,297 shares of the semiconductor company’s stock worth $129,346,000 after acquiring an additional 972,428 shares during the period. Vanguard Group Inc. boosted its stake in shares of Applied Optoelectronics by 49.8% during the 2nd quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock worth $58,917,000 after acquiring an additional 317,033 shares during the period. State of Tennessee Treasury Department boosted its stake in shares of Applied Optoelectronics by 113.9% during the 3rd quarter. State of Tennessee Treasury Department now owns 815,552 shares of the semiconductor company’s stock worth $52,742,000 after acquiring an additional 434,207 shares during the period. FMR LLC bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $45,101,000. Finally, Balyasny Asset Management LLC bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $44,798,000. Hedge funds and other institutional investors own 76.67% 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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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