Applied Optoelectronics Inc (NASDAQ:AAOI)’s share price dropped 0% during mid-day trading on Tuesday . The company traded as low as $35.10 and last traded at $35.54. Approximately 3,015,074 shares traded hands during trading, an increase of 148% from the average daily volume of 1,215,420 shares. The stock had previously closed at $35.54.
AAOI has been the topic of a number of research analyst reports. DA Davidson reissued a “buy” rating and set a $69.00 price objective on shares of Applied Optoelectronics in a research report on Wednesday, November 8th. Piper Jaffray Companies reissued a “buy” rating and set a $63.00 price objective on shares of Applied Optoelectronics in a research report on Friday, October 13th. Craig Hallum reissued a “buy” rating and set a $80.00 price objective (down previously from $95.00) on shares of Applied Optoelectronics in a research report on Tuesday, October 3rd. Cowen reissued a “buy” rating and set a $60.00 price objective (down previously from $74.00) on shares of Applied Optoelectronics in a research report on Thursday, December 7th. Finally, TheStreet cut shares of Applied Optoelectronics from a “b-” rating to a “c” rating in a research report on Wednesday, November 15th. Five analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and four have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $60.20.
The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $688.84, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.75 and a beta of 2.88.
Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.23). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The business had revenue of $88.90 million during the quarter, compared to analyst estimates of $88.53 million. During the same quarter in the prior year, the company earned $0.38 EPS. The company’s revenue was up 26.8% on a year-over-year basis. equities research analysts expect that Applied Optoelectronics Inc will post 4.22 earnings per share for the current year.
In related news, Director Richard B. Black sold 1,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $40.43, for a total value of $40,430.00. Following the sale, the director now owns 35,478 shares in the company, valued at approximately $1,434,375.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan D. Moore bought 22,400 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was acquired 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 a total of 7,900 shares of company stock worth $365,804 in the last 90 days. 8.19% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter worth about $115,000. Citigroup Inc. raised its holdings in shares of 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 acquiring an additional 993 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter worth about $137,000. Pinebridge Investments L.P. acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter worth about $144,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter worth about $149,000. Institutional investors own 76.67% of the company’s stock.
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Applied Optoelectronics Company Profile
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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