DA Davidson set a $55.00 target price on Applied Optoelectronics (NASDAQ:AAOI) in a research report sent to investors on Thursday morning. The brokerage currently has a buy rating on the semiconductor company’s stock.
A number of other brokerages have also issued reports on AAOI. Needham & Company LLC lowered their price target on Applied Optoelectronics from $75.00 to $50.00 and set a strong-buy rating for the company in a report on Wednesday, November 8th. Piper Jaffray Companies reiterated a buy rating and issued a $51.00 price target on shares of Applied Optoelectronics in a report on Friday, November 10th. ValuEngine upgraded Applied Optoelectronics from a buy rating to a strong-buy rating in a report on Tuesday, November 14th. TheStreet lowered Applied Optoelectronics from a b- rating to a c rating in a report on Wednesday, November 15th. Finally, Cowen reiterated a buy rating and issued a $60.00 price target (down previously from $74.00) on shares of Applied Optoelectronics in a report on Thursday, December 7th. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of $48.03.
Applied Optoelectronics (NASDAQ AAOI) opened at $28.02 on Thursday. The company has a market capitalization of $543.09, a P/E ratio of 6.64, a PEG ratio of 0.57 and a beta of 2.51. Applied Optoelectronics has a 52 week low of $26.11 and a 52 week high of $103.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.18 and a current ratio of 3.25.
A number of institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors lifted its holdings in Applied Optoelectronics by 3.2% during the second quarter. Nationwide Fund Advisors now owns 10,909 shares of the semiconductor company’s stock worth $674,000 after buying an additional 343 shares during the period. Citigroup Inc. lifted its holdings in Applied Optoelectronics by 96.2% during the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock worth $126,000 after buying an additional 993 shares during the period. New York State Teachers Retirement System lifted its holdings in Applied Optoelectronics by 11.2% during the third quarter. New York State Teachers Retirement System now owns 13,900 shares of the semiconductor company’s stock worth $899,000 after buying an additional 1,400 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Applied Optoelectronics by 11.1% during the second quarter. The Manufacturers Life Insurance Company now owns 14,671 shares of the semiconductor company’s stock worth $907,000 after buying an additional 1,461 shares during the period. Finally, Comerica Bank lifted its holdings in Applied Optoelectronics by 9.4% during the third quarter. Comerica Bank now owns 20,309 shares of the semiconductor company’s stock worth $855,000 after buying an additional 1,737 shares during the period. Institutional investors own 71.70% of the company’s stock.
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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.
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