Applied Optoelectronics (AAOI) Trading Down 6.6%

Shares of Applied Optoelectronics Inc (NASDAQ:AAOI) dropped 6.6% during trading on Wednesday . The stock traded as low as $31.26 and last traded at $31.34. Approximately 1,213,200 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 1,349,448 shares. The stock had previously closed at $33.56.

AAOI has been the topic of several research reports. BidaskClub lowered shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. Needham & Company LLC lowered shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Loop Capital reiterated a “hold” rating and issued a $45.00 price target on shares of Applied Optoelectronics in a research report on Wednesday, August 8th. Piper Jaffray Companies reiterated a “hold” rating and issued a $43.00 price target on shares of Applied Optoelectronics in a research report on Wednesday, August 8th. Finally, B. Riley increased their price target on shares of Applied Optoelectronics from $30.50 to $34.50 and gave the company a “neutral” rating in a research report on Wednesday, August 8th. Seven analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.35.

The stock has a market cap of $654.17 million, a P/E ratio of 7.80, a P/E/G ratio of 1.26 and a beta of 2.54. The company has a current ratio of 3.22, a quick ratio of 1.92 and a debt-to-equity ratio of 0.17.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.34 by $0.30. The business had revenue of $87.82 million for the quarter, compared to analyst estimates of $77.29 million. Applied Optoelectronics had a net margin of 10.95% and a return on equity of 14.77%. research analysts expect that Applied Optoelectronics Inc will post 1.89 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its position in Applied Optoelectronics by 6.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 50,685 shares of the semiconductor company’s stock worth $2,276,000 after acquiring an additional 3,069 shares during the last quarter. Principal Financial Group Inc. boosted its position in Applied Optoelectronics by 4.4% during the first quarter. Principal Financial Group Inc. now owns 186,911 shares of the semiconductor company’s stock worth $4,684,000 after acquiring an additional 7,875 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Applied Optoelectronics during the second quarter worth approximately $202,000. Victory Capital Management Inc. boosted its position in Applied Optoelectronics by 589.7% during the second quarter. Victory Capital Management Inc. now owns 24,842 shares of the semiconductor company’s stock worth $1,115,000 after acquiring an additional 21,240 shares during the last quarter. Finally, Van Hulzen Asset Management LLC acquired a new stake in Applied Optoelectronics during the second quarter worth approximately $397,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

About Applied Optoelectronics (NASDAQ:AAOI)

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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