BidaskClub lowered shares of Applied Optoelectronics (NASDAQ:AAOI) from a hold rating to a sell rating in a research report report published on Tuesday, March 20th.
A number of other research analysts have also commented on the company. DA Davidson set a $55.00 price target on Applied Optoelectronics and gave the stock a buy rating in a report on Tuesday, March 6th. Zacks Investment Research lowered Applied Optoelectronics from a hold rating to a strong sell rating in a report on Wednesday, February 28th. Cowen reiterated an outperform rating and set a $53.00 price target (down from $60.00) on shares of Applied Optoelectronics in a report on Thursday, February 22nd. B. Riley cut their price target on Applied Optoelectronics from $32.00 to $30.50 and set a neutral rating for the company in a report on Thursday, February 22nd. Finally, Craig Hallum cut Applied Optoelectronics from a hold rating to a sell rating in a research report on Thursday, February 22nd. Five analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and four have issued a strong buy rating to the company. Applied Optoelectronics presently has a consensus rating of Hold and a consensus price target of $48.03.
AAOI traded up $0.47 on Tuesday, hitting $29.59. The company had a trading volume of 2,556,702 shares, compared to its average volume of 1,437,293. Applied Optoelectronics has a 1-year low of $22.54 and a 1-year high of $103.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.18 and a current ratio of 3.25. The firm has a market cap of $495.90, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 0.94 and a beta of 2.63.
Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.04. Applied Optoelectronics had a return on equity of 30.08% and a net margin of 19.34%. The firm had revenue of $79.86 million during the quarter, compared to analyst estimates of $86.22 million. analysts anticipate that Applied Optoelectronics will post 1.88 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its position in shares of Applied Optoelectronics by 106.3% during the third quarter. Cubist Systematic Strategies LLC now owns 14,071 shares of the semiconductor company’s stock valued at $910,000 after purchasing an additional 7,251 shares during the period. Principal Financial Group Inc. grew its position in Applied Optoelectronics by 10.4% in the third quarter. Principal Financial Group Inc. now owns 160,471 shares of the semiconductor company’s stock valued at $10,378,000 after acquiring an additional 15,144 shares during the period. Royce & Associates LP bought a new stake in Applied Optoelectronics in the fourth quarter valued at $1,467,000. Pinebridge Investments L.P. grew its position in Applied Optoelectronics by 526.2% in the third quarter. Pinebridge Investments L.P. now owns 14,579 shares of the semiconductor company’s stock valued at $942,000 after acquiring an additional 12,251 shares during the period. Finally, Westpac Banking Corp grew its position in Applied Optoelectronics by 21.0% in the fourth quarter. Westpac Banking Corp now owns 20,930 shares of the semiconductor company’s stock valued at $792,000 after acquiring an additional 3,636 shares during the period. Institutional investors and hedge funds own 61.78% 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.
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