Applied Optoelectronics, Inc. (AAOI) Upgraded to “Strong-Buy” at ValuEngine

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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