Applied Optoelectronics (NASDAQ:AAOI) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Saturday.
Other research analysts have also recently issued research reports about the company. Piper Jaffray Companies cut Applied Optoelectronics from an “overweight” rating to a “neutral” rating in a report on Monday, January 29th. Needham & Company LLC dropped their price target on Applied Optoelectronics from $50.00 to $40.00 and set a “strong-buy” rating on the stock in a report on Thursday, February 22nd. Craig Hallum cut Applied Optoelectronics from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. Cowen reaffirmed an “outperform” rating and issued a $53.00 price target (down previously from $60.00) on shares of Applied Optoelectronics in a report on Thursday, February 22nd. Finally, B. Riley dropped their price target on Applied Optoelectronics from $32.00 to $30.50 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $48.03.
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AAOI opened at $34.49 on Friday. The company has a market capitalization of $659.22 million, a price-to-earnings ratio of 8.15, a PEG ratio of 1.77 and a beta of 2.59. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.14. Applied Optoelectronics has a 1-year low of $22.54 and a 1-year high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Tuesday, May 8th. The semiconductor company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.05). The firm had revenue of $65.20 million during the quarter, compared to analyst estimates of $68.94 million. Applied Optoelectronics had a return on equity of 20.82% and a net margin of 16.02%. The business’s revenue for the quarter was down 32.2% on a year-over-year basis. During the same quarter last year, the company earned $1.10 earnings per share. analysts predict that Applied Optoelectronics will post 1.68 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in Applied Optoelectronics by 29.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the semiconductor company’s stock valued at $195,000 after purchasing an additional 1,744 shares during the period. Swiss National Bank raised its stake in Applied Optoelectronics by 6.0% during the 1st quarter. Swiss National Bank now owns 32,000 shares of the semiconductor company’s stock valued at $802,000 after purchasing an additional 1,800 shares during the period. Resources Investment Advisors Inc. raised its stake in Applied Optoelectronics by 218.5% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,796 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 1,918 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Applied Optoelectronics by 27.6% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 9,280 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 2,010 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in Applied Optoelectronics by 51.1% during the 4th quarter. OppenheimerFunds Inc. now owns 6,394 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 2,161 shares during the period. 68.55% of the stock is currently owned by institutional investors.
About Applied Optoelectronics
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.
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