Applied Optoelectronics Inc. (NASDAQ:AAOI) has been given a consensus rating of “Buy” by the seven ratings firms that are covering the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $21.20.
Several brokerages have weighed in on AAOI. Zacks Investment Research raised shares of Applied Optoelectronics from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Thursday, September 8th. Roth Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Applied Optoelectronics in a research note on Thursday, September 8th. Craig Hallum increased their target price on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, August 25th. Finally, TheStreet raised shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a research note on Friday, August 19th.
Applied Optoelectronics (NASDAQ:AAOI) opened at 22.21 on Tuesday. The stock has a 50 day moving average of $18.23 and a 200-day moving average of $13.64. The stock has a market cap of $380.68 million, a P/E ratio of 81.96 and a beta of 2.37. Applied Optoelectronics has a 12 month low of $8.08 and a 12 month high of $22.47.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.10. Applied Optoelectronics had a net margin of 2.16% and a return on equity of 6.01%. The firm earned $55.30 million during the quarter, compared to analyst estimates of $50.84 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Applied Optoelectronics’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts forecast that Applied Optoelectronics will post $0.70 EPS for the current fiscal year.
In other news, CFO Stefan J. Murry sold 3,660 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $19.05, for a total transaction of $69,723.00. Following the sale, the chief financial officer now owns 35,093 shares of the company’s stock, valued at $668,521.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.19% of the company’s stock.
Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of Applied Optoelectronics by 23.2% in the second quarter. AQR Capital Management LLC now owns 41,529 shares of the company’s stock valued at $463,000 after buying an additional 7,832 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at about $215,000. Guggenheim Capital LLC boosted its stake in shares of Applied Optoelectronics by 69.5% in the second quarter. Guggenheim Capital LLC now owns 105,586 shares of the company’s stock valued at $1,177,000 after buying an additional 43,281 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Applied Optoelectronics by 6.4% in the second quarter. Marshall Wace LLP now owns 18,354 shares of the company’s stock valued at $205,000 after buying an additional 1,098 shares in the last quarter. Finally, S Squared Technology LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at about $1,967,000. 78.60% of the stock is currently owned by institutional investors and hedge funds.
Applied Optoelectronics Company Profile
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products. The Company offers its products for approximately three networking end markets, such as Internet data center; cable television (CATV), and fiber-to-the-home (FTTH). 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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