Applied Optoelectronics, Inc. (NASDAQ:AAOI) had its price target cut by Needham & Company LLC from $75.00 to $50.00 in a report released on Wednesday, MarketBeat reports. They currently have a strong-buy rating on the semiconductor company’s stock.
AAOI has been the topic of a number of other research reports. Vetr upgraded Applied Optoelectronics from a buy rating to a strong-buy rating and set a $76.81 price objective on the stock in a research note on Wednesday, August 9th. Cowen and Company restated an outperform rating and set a $100.00 price objective (up previously from $94.00) on shares of Applied Optoelectronics in a research note on Friday, July 14th. BWS Financial restated a sell rating and set a $25.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 31st. DA Davidson set a $103.00 price objective on Applied Optoelectronics and gave the stock a buy rating in a research note on Saturday, August 5th. Finally, Roth Capital lifted their target price on Applied Optoelectronics from $70.00 to $90.00 and gave the stock a buy rating in a research report on Thursday, July 13th. Four research analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and four have issued a strong buy rating to the stock. Applied Optoelectronics currently has an average rating of Buy and a consensus target price of $62.53.
Shares of Applied Optoelectronics (NASDAQ AAOI) traded up $2.10 on Wednesday, hitting $45.30. The company’s stock had a trading volume of 2,969,900 shares, compared to its average volume of 2,796,762. The firm has a market capitalization of $878.00, a PE ratio of 10.76, a PEG ratio of 0.62 and a beta of 2.90. Applied Optoelectronics has a 12 month low of $21.88 and a 12 month high of $103.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.07 and a current ratio of 2.99.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.23). The company had revenue of $88.90 million for the quarter, compared to analyst estimates of $88.53 million. Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. analysts predict that Applied Optoelectronics will post 4.2 EPS for the current year.
TRADEMARK VIOLATION WARNING: This report was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.chaffeybreeze.com/2017/11/12/applied-optoelectronics-inc-aaoi-price-target-lowered-to-50-00-at-needham-company-llc.html.
In related news, CFO Stefan J. Murry sold 3,050 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $70.21, for a total value of $214,140.50. Following the completion of the sale, the chief financial officer now directly owns 57,540 shares of the company’s stock, valued at $4,039,883.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard B. Black sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $58.52, for a total value of $58,520.00. Following the completion of the sale, the director now directly owns 38,478 shares of the company’s stock, valued at $2,251,732.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,050 shares of company stock worth $739,281. Corporate insiders own 8.19% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. State of Tennessee Treasury Department bought a new stake in Applied Optoelectronics in the second quarter valued at about $23,563,000. Robeco Institutional Asset Management B.V. bought a new stake in Applied Optoelectronics in the second quarter valued at about $9,910,000. Bourne Lent Asset Management Inc. increased its holdings in Applied Optoelectronics by 21.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 8,650 shares of the semiconductor company’s stock valued at $534,000 after buying an additional 1,550 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in Applied Optoelectronics in the second quarter valued at about $1,583,000. Finally, LSV Asset Management increased its holdings in Applied Optoelectronics by 76.4% in the second quarter. LSV Asset Management now owns 82,200 shares of the semiconductor company’s stock valued at $5,079,000 after buying an additional 35,600 shares during the last quarter. 80.05% 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, 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.
Receive News & Ratings for Applied Optoelectronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.