DA Davidson Increases Applied Optoelectronics (AAOI) Price Target to $42.00

Applied Optoelectronics (NASDAQ:AAOI) had its target price lifted by stock analysts at DA Davidson to $42.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s price objective points to a potential upside of 93.91% from the stock’s previous close.

Several other equities analysts also recently commented on AAOI. JPMorgan Chase & Co. downgraded Applied Optoelectronics to a “sell” rating in a report on Thursday, September 27th. B. Riley increased their price target on Applied Optoelectronics from $30.50 to $34.50 and gave the company a “neutral” rating in a report on Wednesday, August 8th. Craig Hallum set a $28.00 price target on Applied Optoelectronics and gave the company a “sell” rating in a report on Wednesday, August 8th. Loop Capital reiterated a “hold” rating and set a $45.00 price target on shares of Applied Optoelectronics in a report on Wednesday, August 8th. Finally, BidaskClub upgraded Applied Optoelectronics from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Seven equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $25.11.

Shares of AAOI opened at $21.66 on Thursday. The company has a market cap of $381.75 million, a P/E ratio of 5.12, a price-to-earnings-growth ratio of 1.73 and a beta of 2.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.92 and a current ratio of 3.22. Applied Optoelectronics has a twelve month low of $17.95 and a twelve month high of $50.30.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Wednesday, November 7th. The semiconductor company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.25. The firm had revenue of $56.40 million for the quarter, compared to analyst estimates of $56.55 million. Applied Optoelectronics had a net margin of 4.20% and a return on equity of 8.70%. The company’s revenue for the quarter was down 36.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 earnings per share. Analysts predict that Applied Optoelectronics will post 0.75 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in AAOI. Principal Financial Group Inc. grew its holdings in Applied Optoelectronics by 4.4% during the first quarter. Principal Financial Group Inc. now owns 186,911 shares of the semiconductor company’s stock valued at $4,684,000 after purchasing an additional 7,875 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Applied Optoelectronics in the second quarter worth $1,114,000. Elephas Investment Management Ltd acquired a new stake in shares of Applied Optoelectronics in the second quarter worth $1,051,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Applied Optoelectronics in the second quarter worth $204,000. Finally, Virtu Financial LLC acquired a new stake in shares of Applied Optoelectronics in the second quarter worth $292,000. Institutional investors own 71.64% 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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The Fly

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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