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

BidaskClub downgraded shares of Applied Optoelectronics (NASDAQ:AAOI) from a sell rating to a strong sell rating in a report issued on Tuesday morning.

Several other research firms also recently weighed in on AAOI. Rosenblatt Securities restated a sell rating and set a $10.00 target price (down from $15.00) on shares of Applied Optoelectronics in a report on Tuesday, February 12th. Zacks Investment Research upgraded shares of Applied Optoelectronics from a hold rating to a buy rating and set a $19.00 target price for the company in a report on Wednesday, February 6th. ValuEngine downgraded shares of Applied Optoelectronics from a sell rating to a strong sell rating in a report on Wednesday, February 20th. Raymond James downgraded shares of Applied Optoelectronics from an outperform rating to a market perform rating in a report on Friday, February 22nd. Finally, Needham & Company LLC downgraded shares of Applied Optoelectronics from a buy rating to a hold rating in a report on Friday, February 22nd. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Applied Optoelectronics has an average rating of Hold and a consensus target price of $20.60.

Shares of AAOI opened at $13.84 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 2.51 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $280.71 million, a PE ratio of 26.11 and a beta of 2.01. Applied Optoelectronics has a 52-week low of $12.85 and a 52-week high of $50.30.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, February 21st. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.16). The business had revenue of $58.02 million during the quarter, compared to the consensus estimate of $60.78 million. Applied Optoelectronics had a negative net margin of 0.80% and a positive return on equity of 3.06%. On average, equities research analysts forecast that Applied Optoelectronics will post -0.76 EPS for the current fiscal year.

In other news, CFO Stefan J. Murry sold 2,000 shares of Applied Optoelectronics stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $15.40, for a total transaction of $30,800.00. Following the completion of the sale, the chief financial officer now directly owns 64,520 shares in the company, valued at $993,608. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 4,000 shares of company stock valued at $63,220. Insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Applied Optoelectronics by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 208,739 shares of the semiconductor company’s stock worth $3,220,000 after buying an additional 8,793 shares in the last quarter. FMR LLC grew its holdings in shares of Applied Optoelectronics by 675.9% during the fourth quarter. FMR LLC now owns 45,780 shares of the semiconductor company’s stock worth $706,000 after buying an additional 39,880 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $348,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $1,994,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $85,000. Institutional investors and hedge funds own 60.16% 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.

Featured Article: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

Receive News & Ratings for Applied Optoelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics and related companies with MarketBeat.com's FREE daily email newsletter.