Applied Optoelectronics Inc. (NASDAQ:AAOI)‘s stock had its “overweight” rating reiterated by equities researchers at Piper Jaffray Cos. in a research report issued to clients and investors on Friday. They currently have a $27.00 price target on the stock, up from their previous price target of $24.00. Piper Jaffray Cos.’s target price suggests a potential upside of 18.84% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. Roth Capital restated a “buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Thursday, September 8th. TheStreet upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Craig Hallum increased their price objective 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. Seven analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $24.00.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded down 1.43% during midday trading on Friday, hitting $22.72. 162,770 shares of the stock traded hands. The company has a market capitalization of $389.42 million, a price-to-earnings ratio of 83.84 and a beta of 2.29. The firm’s 50-day moving average is $19.20 and its 200 day moving average is $13.78. Applied Optoelectronics has a 52 week low of $8.08 and a 52 week high of $24.18.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $55.30 million for the quarter, compared to the consensus estimate of $50.84 million. During the same period in the prior year, the company posted $0.38 earnings per share. Applied Optoelectronics’s revenue was up 11.5% compared to the same quarter last year. Equities analysts forecast that Applied Optoelectronics will post $0.71 earnings per share for the current 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 value of $69,723.00. Following the completion of the transaction, the chief financial officer now owns 35,093 shares of the company’s stock, valued at $668,521.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.19% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Applied Optoelectronics by 19.1% in the first quarter. Wellington Management Group LLP now owns 1,821,316 shares of the company’s stock worth $27,155,000 after buying an additional 291,994 shares during the period. Kennedy Capital Management Inc. boosted its position in Applied Optoelectronics by 10.5% in the first quarter. Kennedy Capital Management Inc. now owns 658,437 shares of the company’s stock worth $9,817,000 after buying an additional 62,727 shares during the period. Vanguard Group Inc. boosted its position in Applied Optoelectronics by 4.2% in the second quarter. Vanguard Group Inc. now owns 580,075 shares of the company’s stock worth $6,468,000 after buying an additional 23,276 shares during the period. Royce & Associates LP boosted its position in Applied Optoelectronics by 2,192.5% in the second quarter. Royce & Associates LP now owns 458,500 shares of the company’s stock worth $5,112,000 after buying an additional 438,500 shares during the period. Finally, Selz Capital LLC boosted its position in Applied Optoelectronics by 32.8% in the second quarter. Selz Capital LLC now owns 405,000 shares of the company’s stock worth $4,516,000 after buying an additional 100,000 shares during the period. 78.60% of the stock is owned by hedge funds and other institutional investors.
About Applied Optoelectronics
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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