Applied Optoelectronics Inc. (NASDAQ:AAOI) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.
A number of other equities research analysts also recently issued reports on the stock. Craig Hallum boosted their price objective on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. Roth Capital reissued a “buy” rating and set a $23.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, September 8th. Finally, Zacks Investment Research raised shares of Applied Optoelectronics from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Thursday, September 8th. Seven research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $21.83.
Shares of Applied Optoelectronics (NASDAQ:AAOI) opened at 21.63 on Monday. The stock has a market cap of $370.74 million, a P/E ratio of 79.82 and a beta of 2.27. Applied Optoelectronics has a 52-week low of $8.08 and a 52-week high of $22.47. The firm’s 50-day moving average price is $18.66 and its 200-day moving average price is $13.65.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $50.84 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts predict that Applied Optoelectronics will post $0.70 EPS for the current year.
In other Applied Optoelectronics news, CFO Stefan J. Murry sold 3,660 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $19.05, for a total value of $69,723.00. Following the sale, the chief financial officer now owns 35,093 shares in the company, valued at approximately $668,521.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.19% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Blue Rock Advisors LLC boosted its stake in shares of Applied Optoelectronics by 4.6% in the second quarter. Blue Rock Advisors LLC now owns 11,497 shares of the company’s stock valued at $128,000 after buying an additional 508 shares during the last quarter. American International Group Inc. boosted its stake in shares of Applied Optoelectronics by 5.7% in the second quarter. American International Group Inc. now owns 9,496 shares of the company’s stock valued at $106,000 after buying an additional 515 shares during 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 during the last quarter. Rhumbline Advisers boosted its stake in shares of Applied Optoelectronics by 8.3% in the second quarter. Rhumbline Advisers now owns 18,547 shares of the company’s stock valued at $207,000 after buying an additional 1,429 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Applied Optoelectronics by 1.8% in the first quarter. Geode Capital Management LLC now owns 102,242 shares of the company’s stock valued at $1,524,000 after buying an additional 1,854 shares during the last quarter. Institutional investors and hedge funds own 78.60% of the company’s stock.
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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