Applied Optoelectronics (NASDAQ:AAOI) Downgraded by ValuEngine

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

Other equities analysts have also issued research reports about the company. Rosenblatt Securities reissued a “hold” rating and issued a $10.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. TheStreet lowered Applied Optoelectronics from a “c-” rating to a “d+” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. started coverage on Applied Optoelectronics in a research note on Monday, July 29th. They set a “neutral” rating and a $11.00 price target for the company. Northland Securities restated a “sell” rating and set a $6.50 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, Zacks Investment Research upgraded Applied Optoelectronics from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Applied Optoelectronics presently has a consensus rating of “Hold” and a consensus price target of $18.54.

NASDAQ:AAOI traded up $0.10 during mid-day trading on Tuesday, reaching $9.85. The company’s stock had a trading volume of 334,885 shares, compared to its average volume of 773,761. Applied Optoelectronics has a 12-month low of $8.56 and a 12-month high of $43.95. The firm’s fifty day simple moving average is $9.89. The company has a current ratio of 2.95, a quick ratio of 1.75 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $198.50 million, a PE ratio of 18.58 and a beta of 2.13.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.06. Applied Optoelectronics had a negative return on equity of 6.14% and a negative net margin of 16.22%. The business had revenue of $43.40 million during the quarter, compared to analyst estimates of $42.49 million. During the same quarter in the previous year, the firm earned $0.64 EPS. Applied Optoelectronics’s revenue was down 50.6% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Optoelectronics will post -1.53 EPS for the current year.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Applied Optoelectronics by 2.8% during the 2nd quarter. BlackRock Inc. now owns 2,950,555 shares of the semiconductor company’s stock valued at $30,331,000 after acquiring an additional 79,610 shares during the period. Investment Counselors of Maryland LLC grew its stake in shares of Applied Optoelectronics by 1.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 473,058 shares of the semiconductor company’s stock valued at $4,863,000 after acquiring an additional 5,164 shares during the period. Royce & Associates LP bought a new position in shares of Applied Optoelectronics during the 1st quarter valued at approximately $3,908,000. Bank of New York Mellon Corp grew its stake in shares of Applied Optoelectronics by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 249,461 shares of the semiconductor company’s stock valued at $2,564,000 after acquiring an additional 8,876 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Applied Optoelectronics by 2.8% during the 2nd quarter. Northern Trust Corp now owns 238,886 shares of the semiconductor company’s stock valued at $2,456,000 after acquiring an additional 6,482 shares during the period. Institutional investors own 62.90% 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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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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