Applied Optoelectronics (AAOI) Cut to “Strong Sell” at ValuEngine

Applied Optoelectronics (NASDAQ:AAOI) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Tuesday.

Other research analysts have also recently issued reports about the stock. B. Riley dropped their target price on shares of Applied Optoelectronics from $34.50 to $24.00 and set a “neutral” rating on the stock in a report on Monday. DA Davidson reiterated a “buy” rating and set a $36.00 target price on shares of Applied Optoelectronics in a report on Monday, October 1st. Rosenblatt Securities initiated coverage on shares of Applied Optoelectronics in a report on Monday, June 11th. They set a “sell” rating and a $30.00 target price on the stock. Needham & Company LLC cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Nine equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.91.

AAOI stock opened at $21.32 on Tuesday. The stock has a market capitalization of $485.75 million, a P/E ratio of 5.27, a P/E/G ratio of 0.93 and a beta of 2.61. Applied Optoelectronics has a 12 month low of $21.25 and a 12 month high of $62.30. The company has a current ratio of 3.22, a quick ratio of 1.92 and a debt-to-equity ratio of 0.17.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.30. The company had revenue of $87.82 million for the quarter, compared to the consensus estimate of $77.29 million. Applied Optoelectronics had a net margin of 10.95% and a return on equity of 14.77%. On average, equities research analysts expect that Applied Optoelectronics will post 1.89 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. bought a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at about $166,000. Engineers Gate Manager LP bought a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at about $202,000. Piedmont Investment Advisors LLC bought a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at about $204,000. Financial Gravity Wealth Inc. bought a new stake in shares of Applied Optoelectronics in the 1st quarter valued at about $143,000. Finally, 6 Meridian bought a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at about $278,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

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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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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