Applied Optoelectronics (NASDAQ:AAOI) Downgraded by ValuEngine to Buy

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ValuEngine downgraded shares of Applied Optoelectronics (NASDAQ:AAOI) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

AAOI has been the topic of a number of other research reports. Zacks Investment Research raised Applied Optoelectronics from a strong sell rating to a hold rating in a research report on Thursday, August 8th. TheStreet lowered Applied Optoelectronics from a c- rating to a d+ rating in a research report on Thursday, May 9th. Rosenblatt Securities reaffirmed a hold rating and set a $10.00 price target on shares of Applied Optoelectronics in a research report on Thursday, August 8th. JPMorgan Chase & Co. started coverage on Applied Optoelectronics in a research report on Monday, July 29th. They set a neutral rating and a $11.00 price target on the stock. Finally, Northland Securities reaffirmed a sell rating and set a $6.50 price target on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $18.54.

Shares of AAOI opened at $8.88 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.95. Applied Optoelectronics has a 1 year low of $8.56 and a 1 year high of $43.95. The stock’s 50-day moving average price is $9.88 and its two-hundred day moving average price is $11.63.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.06. Applied Optoelectronics had a negative return on equity of 6.14% and a negative net margin of 16.22%. The firm had revenue of $43.40 million for the quarter, compared to analysts’ expectations of $42.49 million. During the same quarter last year, the business earned $0.64 earnings per share. The company’s revenue was down 50.6% compared to the same quarter last year. On average, research analysts forecast that Applied Optoelectronics will post -1.46 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC raised its position in Applied Optoelectronics by 37.1% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,848 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 1,312 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Applied Optoelectronics in the 2nd quarter valued at approximately $51,000. Neuburgh Advisers LLC raised its position in Applied Optoelectronics by 37.1% in the 2nd quarter. Neuburgh Advisers LLC now owns 6,666 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 1,804 shares during the last quarter. Cerebellum GP LLC acquired a new stake in Applied Optoelectronics in the 1st quarter valued at approximately $72,000. Finally, Riverhead Capital Management LLC raised its position in Applied Optoelectronics by 35.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,685 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 2,000 shares during the last quarter. 62.90% of the stock is currently owned by institutional investors.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

Read More: How Do You Calculate Return on Equity (ROE)?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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