Zacks Investment Research Downgrades Applied Optoelectronics (AAOI) to Sell

Zacks Investment Research downgraded shares of Applied Optoelectronics (NASDAQ:AAOI) from a hold rating to a sell rating in a research report released on Tuesday.

According to Zacks, “Applied Optoelectronics, Inc. designs, develops and manufactures advanced optical devices, packaged optical components, optical subsystems, laser transmitters and fiber optic transceivers. The company’s products are used in fiber optic communications equipment for FTTH, point-to-point telecom, datacom and access networks and systems supporting cable television, network infrastructure. Applied Optoelectronics, Inc. is headquartered in Sugar Land, Texas. “

AAOI has been the subject of a number of other reports. Needham & Company LLC lowered their price objective on Applied Optoelectronics to $35.00 and set a buy rating for the company in a research note on Monday, October 1st. BidaskClub upgraded Applied Optoelectronics from a hold rating to a buy rating in a research note on Tuesday, August 28th. Rosenblatt Securities restated a sell rating and set a $30.00 price objective on shares of Applied Optoelectronics in a research note on Wednesday, July 11th. B. Riley lowered their price objective on Applied Optoelectronics from $34.50 to $24.00 and set a neutral rating for the company in a research note on Monday, October 8th. Finally, ValuEngine downgraded Applied Optoelectronics from a sell rating to a strong sell rating in a research note on Thursday, September 27th. Seven investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $31.78.

Shares of AAOI opened at $21.91 on Tuesday. The firm has a market cap of $456.01 million, a P/E ratio of 5.18, a P/E/G ratio of 2.07 and a beta of 2.60. The company has a quick ratio of 1.92, a current ratio of 3.22 and a debt-to-equity ratio of 0.17. Applied Optoelectronics has a 12 month low of $20.76 and a 12 month high of $50.30.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Tuesday, August 7th. The semiconductor company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.30. The firm had revenue of $87.82 million during the quarter, compared to the consensus estimate of $77.29 million. Applied Optoelectronics had a return on equity of 14.77% and a net margin of 10.95%. On average, equities analysts forecast that Applied Optoelectronics will post 0.75 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in Applied Optoelectronics by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 45,887 shares of the semiconductor company’s stock worth $2,060,000 after acquiring an additional 1,418 shares during the period. Bank of America Corp DE boosted its position in Applied Optoelectronics by 4.5% during the 2nd quarter. Bank of America Corp DE now owns 39,021 shares of the semiconductor company’s stock worth $1,752,000 after acquiring an additional 1,669 shares during the period. Globeflex Capital L P boosted its position in Applied Optoelectronics by 15.0% during the 2nd quarter. Globeflex Capital L P now owns 13,000 shares of the semiconductor company’s stock worth $584,000 after acquiring an additional 1,700 shares during the period. PNC Financial Services Group Inc. boosted its position 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 worth $195,000 after acquiring an additional 1,744 shares during the period. Finally, Swiss National Bank boosted its position in Applied Optoelectronics by 6.0% during the 1st quarter. Swiss National Bank now owns 32,000 shares of the semiconductor company’s stock worth $802,000 after acquiring an additional 1,800 shares during the period. Institutional investors own 72.37% of the company’s stock.

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.

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