Rosenblatt Securities reiterated their hold rating on shares of Applied Optoelectronics (NASDAQ:AAOI) in a report released on Thursday, AnalystRatings.com reports. They currently have a $10.00 price objective on the semiconductor company’s stock.
“We recently upgraded Applied Optoelectronics from sell to neutral (click here for our upgrade note) on the notion that we thought Applied Optoelectronics’ revenue from Amazon’s 40G orders had bottomed and the company was making some progress at qualifying for 100G CWDM4 modules at Amazon. We believe CWDM4 quality issues have been resolved. Overall, we think Applied Optoelectronics may see limited revenue downside and may see revenue upside from potential shipments of 100G products to Facebook (FB: Buy) or Amazon.”,” Rosenblatt Securities’ analyst wrote.
AAOI has been the subject of a number of other research reports. Zacks Investment Research cut Applied Optoelectronics from a hold rating to a strong sell rating in a research note on Thursday, August 1st. ValuEngine upgraded Applied Optoelectronics from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. TheStreet lowered Applied Optoelectronics from a c- rating to a d+ rating in a report on Thursday, May 9th. BidaskClub raised Applied Optoelectronics from a strong sell rating to a sell rating in a report on Saturday, April 13th. Finally, JPMorgan Chase & Co. assumed coverage on Applied Optoelectronics in a report on Monday, July 29th. They issued a neutral rating and a $11.00 target price for the company. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $18.54.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($0.41) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.06. The business had revenue of $43.40 million during the quarter, compared to analysts’ expectations of $42.49 million. Applied Optoelectronics had a negative return on equity of 6.14% and a negative net margin of 16.22%. The firm’s quarterly revenue was down 50.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. As a group, research analysts anticipate that Applied Optoelectronics will post -1.53 EPS for the current year.
Several institutional investors have recently bought and sold shares of AAOI. Advisor Group Inc. raised its position in Applied Optoelectronics by 24.4% during the fourth quarter. Advisor Group Inc. now owns 4,097 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 803 shares during the period. Geode Capital Management LLC grew its stake in shares of Applied Optoelectronics by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 208,739 shares of the semiconductor company’s stock worth $3,220,000 after acquiring an additional 8,793 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Applied Optoelectronics by 1.1% during the 4th quarter. Principal Financial Group Inc. now owns 152,703 shares of the semiconductor company’s stock worth $2,356,000 after acquiring an additional 1,606 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Applied Optoelectronics by 529.4% during the 4th quarter. Two Sigma Investments LP now owns 26,191 shares of the semiconductor company’s stock worth $404,000 after acquiring an additional 32,291 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Applied Optoelectronics by 165.2% during the 4th quarter. Bank of America Corp DE now owns 18,314 shares of the semiconductor company’s stock worth $282,000 after acquiring an additional 11,408 shares in the last quarter. 63.05% of the stock is owned by institutional investors and hedge funds.
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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