ValuEngine Lowers Applied Optoelectronics (AAOI) to Strong Sell

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

AAOI has been the subject of a number of other research reports. Rosenblatt Securities assumed coverage on shares of Applied Optoelectronics in a research note on Monday, June 11th. They set a “sell” rating and a $30.00 price target for the company. Needham & Company LLC decreased their price target on shares of Applied Optoelectronics to $35.00 and set a “buy” rating for the company in a research note on Monday, October 1st. BidaskClub upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. B. Riley cut their price objective on shares of Applied Optoelectronics from $34.50 to $24.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $29.00 price objective on shares of Applied Optoelectronics in a research report on Friday, September 28th. Nine investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Applied Optoelectronics has a consensus rating of “Hold” and an average price target of $31.91.

Shares of NASDAQ:AAOI opened at $22.85 on Tuesday. The firm has a market cap of $485.75 million, a P/E ratio of 5.40, a price-to-earnings-growth ratio of 0.93 and a beta of 2.61. 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 1-year low of $22.12 and a 1-year high of $62.30.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.64 earnings per share 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 analysts’ expectations of $77.29 million. Applied Optoelectronics had a net margin of 10.95% and a return on equity of 14.77%. As a group, research analysts expect that Applied Optoelectronics will post 1.89 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in AAOI. Northern Trust Corp boosted its position in shares of Applied Optoelectronics by 3.2% in the second quarter. Northern Trust Corp now owns 224,674 shares of the semiconductor company’s stock worth $10,088,000 after acquiring an additional 6,884 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Applied Optoelectronics in the second quarter worth approximately $788,000. Bank of America Corp DE boosted its position in shares of Applied Optoelectronics by 4.5% in the second 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 last quarter. 6 Meridian acquired a new stake in shares of Applied Optoelectronics in the second quarter worth approximately $278,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Applied Optoelectronics in the second quarter worth approximately $373,000. Institutional investors own 72.36% 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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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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