Applied Optoelectronics, Inc. (AAOI) Price Target Lowered to $50.00 at Needham & Company LLC

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.

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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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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