Applied Optoelectronics (NASDAQ:AAOI) Downgraded to Underweight at JPMorgan Chase & Co.

Applied Optoelectronics (NASDAQ:AAOI) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Tuesday, The Fly reports. They presently have a $11.00 price target on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.48% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other research analysts also recently commented on the company. Northland Securities reissued a “sell” rating and set a $6.50 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Zacks Investment Research raised Applied Optoelectronics from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 8th. ValuEngine raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Rosenblatt Securities reissued a “hold” rating and set a $10.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $14.28.

Shares of NASDAQ AAOI opened at $10.84 on Tuesday. The firm has a market capitalization of $217.31 million, a PE ratio of 20.45 and a beta of 2.08. The company has a current ratio of 2.95, a quick ratio of 1.75 and a debt-to-equity ratio of 0.37. Applied Optoelectronics has a 1 year low of $8.34 and a 1 year high of $23.38. The firm’s 50-day moving average is $10.63 and its 200-day moving average is $10.33.

Applied Optoelectronics (NASDAQ:AAOI) last posted 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 company had revenue of $43.40 million for the quarter, compared to the consensus estimate of $42.49 million. Applied Optoelectronics had a negative net margin of 16.22% and a negative return on equity of 6.14%. The firm’s revenue was down 50.6% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, equities research analysts anticipate that Applied Optoelectronics will post -1.46 earnings per share for the current fiscal year.

In other news, CFO Stefan J. Murry sold 6,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $10.41, for a total transaction of $62,460.00. Following the sale, the chief financial officer now directly owns 65,443 shares in the company, valued at $681,261.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.64% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AAOI. Steward Partners Investment Advisory LLC bought a new stake in Applied Optoelectronics in the second quarter valued at approximately $51,000. BNP Paribas Arbitrage SA boosted its holdings in Applied Optoelectronics by 117.4% in the second quarter. BNP Paribas Arbitrage SA now owns 8,562 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 4,624 shares during the last quarter. Trellus Management Company LLC bought a new stake in Applied Optoelectronics in the second quarter valued at approximately $132,000. Swiss National Bank boosted its holdings in Applied Optoelectronics by 6.0% in the second quarter. Swiss National Bank now owns 35,100 shares of the semiconductor company’s stock valued at $361,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Applied Optoelectronics in the second quarter valued at approximately $198,000. Institutional investors and hedge funds own 64.60% 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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