Applied Optoelectronics, Inc. (NASDAQ:AAOI) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday. The brokerage presently has a $76.81 target price on the semiconductor company’s stock. Vetr‘s price target points to a potential upside of 13.84% from the company’s current price.
Several other research firms have also recently weighed in on AAOI. Cowen and Company increased their price objective on shares of Applied Optoelectronics from $75.00 to $94.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. BidaskClub upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. ValuEngine upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Needham & Company LLC started coverage on shares of Applied Optoelectronics in a research report on Monday, May 22nd. They set a “strong-buy” rating and a $85.00 price objective for the company. Finally, BWS Financial reiterated a “sell” rating and set a $25.00 price objective on shares of Applied Optoelectronics in a research report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, six have given a buy rating and six have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $76.98.
Applied Optoelectronics (NASDAQ:AAOI) traded down 5.24% on Wednesday, reaching $67.47. 4,086,252 shares of the company traded hands. The company has a market capitalization of $1.28 billion, a PE ratio of 23.77 and a beta of 2.98. Applied Optoelectronics has a 52-week low of $13.06 and a 52-week high of $103.41. The stock has a 50-day moving average of $76.90 and a 200 day moving average of $56.55. Applied Optoelectronics also was the recipient of some unusual options trading activity on Monday. Stock traders purchased 640 put options on the stock. This is an increase of approximately 106% compared to the average daily volume of 310 put options.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.28. The firm had revenue of $117.40 million during the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The company’s revenue for the quarter was up 112.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. On average, equities analysts forecast that Applied Optoelectronics will post $5.30 EPS for the current year.
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In other news, Director William H. Yeh sold 30,000 shares of Applied Optoelectronics stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $72.12, for a total transaction of $2,163,600.00. Following the completion of the transaction, the director now directly owns 71,167 shares in the company, valued at $5,132,564.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David C. Kuo sold 578 shares of Applied Optoelectronics stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $96.47, for a total transaction of $55,759.66. Following the transaction, the general counsel now owns 23,753 shares of the company’s stock, valued at $2,291,451.91. The disclosure for this sale can be found here. Insiders sold 115,844 shares of company stock valued at $8,324,930 over the last 90 days. Corporate insiders own 8.19% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Whale Rock Capital Management LLC boosted its position in shares of Applied Optoelectronics by 75.2% in the first quarter. Whale Rock Capital Management LLC now owns 1,155,356 shares of the semiconductor company’s stock worth $64,873,000 after buying an additional 495,915 shares in the last quarter. State of Tennessee Treasury Department acquired a new position in shares of Applied Optoelectronics during the second quarter worth about $23,563,000. Morgan Stanley boosted its position in shares of Applied Optoelectronics by 245.9% in the first quarter. Morgan Stanley now owns 521,051 shares of the semiconductor company’s stock worth $29,257,000 after buying an additional 370,427 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Applied Optoelectronics by 195.2% in the first quarter. Renaissance Technologies LLC now owns 514,000 shares of the semiconductor company’s stock worth $28,861,000 after buying an additional 339,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Applied Optoelectronics by 258.8% in the first quarter. Dimensional Fund Advisors LP now owns 260,273 shares of the semiconductor company’s stock worth $14,614,000 after buying an additional 187,740 shares in the last quarter. Hedge funds and other institutional investors own 77.36% of the company’s stock.
About Applied Optoelectronics
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.
To view Vetr’s full report, visit Vetr’s official website.
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