Northland Securities set a $40.00 price target on Applied Optoelectronics, Inc. (NASDAQ:AAOI) in a research report released on Sunday morning. The firm currently has a sell rating on the semiconductor company’s stock.
Other equities research analysts have also issued reports about the company. DA Davidson boosted their target price on Applied Optoelectronics from $95.00 to $100.00 and gave the stock a buy rating in a report on Friday, July 14th. Roth Capital boosted their target price on Applied Optoelectronics from $70.00 to $90.00 and gave the stock a buy rating in a report on Thursday, July 13th. Craig Hallum restated a buy rating and issued a $95.00 target price (up from $85.00) on shares of Applied Optoelectronics in a report on Friday, July 14th. Vetr lowered Applied Optoelectronics from a strong-buy rating to a buy rating and set a $84.73 target price for the company. in a report on Friday, July 14th. Finally, BidaskClub upgraded Applied Optoelectronics from a hold rating to a buy rating in a report on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $70.42.
Shares of Applied Optoelectronics (NASDAQ:AAOI) opened at 42.29 on Friday. The stock has a market cap of $816.32 million, a price-to-earnings ratio of 10.05 and a beta of 3.06. Applied Optoelectronics has a 1-year low of $18.85 and a 1-year high of $103.41. The stock’s 50 day moving average is $58.78 and its 200-day moving average is $63.66.
Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm had revenue of $117.40 million during the quarter, compared to analyst estimates of $117.34 million. During the same period in the previous year, the company earned $0.16 EPS. The company’s revenue for the quarter was up 112.3% on a year-over-year basis. On average, analysts anticipate that Applied Optoelectronics will post $4.62 EPS for the current year.
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In other news, General Counsel David C. Kuo sold 1,116 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $94.87, for a total transaction of $105,874.92. Following the completion of the transaction, the general counsel now directly owns 25,041 shares in the company, valued at $2,375,639.67. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard B. Black sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $60.62, for a total value of $60,620.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,633 shares of company stock valued at $1,029,245. Corporate insiders own 8.19% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC lifted its holdings in shares of Applied Optoelectronics by 20.5% during the second quarter. Lord Abbett & CO. LLC now owns 213,020 shares of the semiconductor company’s stock worth $13,163,000 after buying an additional 36,182 shares during the last quarter. Navellier & Associates Inc acquired a new position in shares of Applied Optoelectronics during the second quarter worth approximately $1,288,000. Advisory Services Network LLC acquired a new position in shares of Applied Optoelectronics during the second quarter worth approximately $137,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Applied Optoelectronics by 132.5% during the second quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock worth $7,614,000 after buying an additional 70,224 shares during the last quarter. Finally, Sterneck Capital Management LLC acquired a new position in shares of Applied Optoelectronics during the second quarter worth approximately $247,000. Institutional investors own 81.59% 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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