Applied Optoelectronics, Inc. (NASDAQ:AAOI) – DA Davidson cut their FY2017 earnings estimates for Applied Optoelectronics in a research report issued on Wednesday. DA Davidson analyst M. Kelleher now forecasts that the semiconductor company will post earnings of $4.14 per share for the year, down from their prior forecast of $4.39. DA Davidson has a “Buy” rating and a $69.00 price objective on the stock. DA Davidson also issued estimates for Applied Optoelectronics’ Q4 2017 earnings at $0.69 EPS, Q1 2018 earnings at $0.81 EPS, Q2 2018 earnings at $0.90 EPS, Q3 2018 earnings at $0.96 EPS, Q4 2018 earnings at $1.06 EPS and FY2018 earnings at $3.73 EPS.
Several other brokerages also recently commented on AAOI. Roth Capital restated a “buy” rating and issued a $90.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 10th. BidaskClub downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Vetr downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 price objective on the stock. in a research report on Monday, August 7th. ValuEngine downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of Applied Optoelectronics in a research report on Tuesday, September 5th. 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 company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $62.53.
Shares of Applied Optoelectronics (NASDAQ:AAOI) opened at $43.90 on Monday. Applied Optoelectronics has a fifty-two week low of $21.88 and a fifty-two week high of $103.41. 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 stock has a market capitalization of $864.06, a PE ratio of 10.59, a price-to-earnings-growth ratio of 0.62 and a beta of 2.90.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.23). Applied Optoelectronics had a net margin of 21.29% and a return on equity of 32.35%. The company had revenue of $88.90 million for the quarter, compared to the consensus estimate of $88.53 million. During the same period in the prior year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 26.8% on a year-over-year basis.
Several large investors have recently bought and sold shares of AAOI. Alliancebernstein L.P. lifted its position in shares of Applied Optoelectronics by 29.6% in the first quarter. Alliancebernstein L.P. now owns 17,500 shares of the semiconductor company’s stock worth $983,000 after buying an additional 4,000 shares in the last quarter. Teachers Advisors LLC raised its position in Applied Optoelectronics by 2.3% during the first quarter. Teachers Advisors LLC now owns 29,403 shares of the semiconductor company’s stock valued at $1,651,000 after purchasing an additional 668 shares during the period. TIAA CREF Investment Management LLC raised its position in Applied Optoelectronics by 55.6% during the first quarter. TIAA CREF Investment Management LLC now owns 73,090 shares of the semiconductor company’s stock valued at $4,104,000 after purchasing an additional 26,104 shares during the period. Legal & General Group Plc raised its position in Applied Optoelectronics by 3.6% during the first quarter. Legal & General Group Plc now owns 4,412 shares of the semiconductor company’s stock valued at $248,000 after purchasing an additional 153 shares during the period. Finally, Vanguard Group Inc. raised its position in Applied Optoelectronics by 7.7% during the first quarter. Vanguard Group Inc. now owns 636,472 shares of the semiconductor company’s stock valued at $35,737,000 after purchasing an additional 45,353 shares during the period. Institutional investors own 83.33% of the company’s stock.
In related news, Director Richard B. Black sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $43.00, for a total value of $43,000.00. Following the sale, the director now directly owns 36,478 shares in the company, valued at $1,568,554. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan D. Moore bought 22,400 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $44.60 per share, for a total transaction of $999,040.00. The disclosure for this purchase can be found here. Insiders sold 10,000 shares of company stock worth $568,140 over the last quarter. 8.19% of the stock is owned by company insiders.
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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