ValuEngine upgraded shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) from a buy rating to a strong-buy rating in a research report released on Tuesday morning.
AAOI has been the topic of several other reports. Needham & Company LLC reaffirmed a buy rating and issued a $115.00 price objective on shares of Applied Optoelectronics in a research report on Tuesday, September 5th. Raymond James Financial, Inc. reaffirmed a strong-buy rating on shares of Applied Optoelectronics in a research report on Thursday, August 31st. BWS Financial reaffirmed a sell rating and issued a $25.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 31st. BidaskClub raised Applied Optoelectronics from a buy rating to a strong-buy rating in a research report on Monday, July 31st. Finally, Cowen and Company reaffirmed an outperform rating and issued a $81.00 price objective (down from $102.00) on shares of Applied Optoelectronics in a research report on Friday, October 13th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $62.53.
Shares of Applied Optoelectronics (NASDAQ:AAOI) opened at $45.04 on Tuesday. The company has a current ratio of 2.99, a quick ratio of 2.02 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $868.32, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 0.62 and a beta of 2.90. Applied Optoelectronics has a 12-month low of $21.88 and a 12-month high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.23). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The company had revenue of $88.90 million during the quarter, compared to the consensus estimate of $88.53 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. equities research analysts anticipate that Applied Optoelectronics will post 4.2 earnings per share for the current year.
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In other Applied Optoelectronics news, Director Richard B. Black sold 1,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $58.52, for a total value of $58,520.00. Following the completion of the sale, the director now owns 38,478 shares in the company, valued at approximately $2,251,732.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan D. Moore purchased 22,400 shares of the business’s stock in a transaction on Monday, November 13th. The stock was acquired 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 quarter, insiders have sold 10,000 shares of company stock valued at $568,140. Company insiders own 8.19% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Flinton Capital Management LLC purchased a new stake in Applied Optoelectronics in the 2nd quarter worth $115,000. Citigroup Inc. increased its stake in Applied Optoelectronics by 96.2% in the 2nd quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock worth $126,000 after buying an additional 993 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Applied Optoelectronics in the 2nd quarter worth $137,000. Pinebridge Investments L.P. purchased a new stake in Applied Optoelectronics in the 2nd quarter worth $144,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Applied Optoelectronics in the 2nd quarter worth $149,000. Institutional investors and hedge funds own 83.33% of the company’s stock.
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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