Applied Optoelectronics (NASDAQ:AAOI) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Applied Optoelectronics (NASDAQ:AAOI) from a hold rating to a sell rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Applied Optoelectronics, Inc. designs, develops and manufactures advanced optical devices, packaged optical components, optical subsystems, laser transmitters and fiber optic transceivers. The company’s products are used in fiber optic communications equipment for FTTH, point-to-point telecom, datacom and access networks and systems supporting cable television, network infrastructure. Applied Optoelectronics, Inc. is headquartered in Sugar Land, Texas. “

AAOI stock opened at $4.11 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 2.15. Applied Optoelectronics has a 52 week low of $4.04 and a 52 week high of $13.95. The firm’s fifty day moving average is $5.52 and its 200 day moving average is $6.75. The firm has a market cap of $112.19 million, a P/E ratio of -2.00 and a beta of 1.70.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, November 4th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.10. The business had revenue of $53.27 million for the quarter, compared to analyst estimates of $53.83 million. Applied Optoelectronics had a negative net margin of 25.33% and a negative return on equity of 11.15%. During the same quarter last year, the firm earned ($0.17) EPS. As a group, analysts forecast that Applied Optoelectronics will post -1.21 EPS for the current year.

Several large investors have recently bought and sold shares of AAOI. Advisor Group Holdings Inc. lifted its position in shares of Applied Optoelectronics by 8.5% in the 2nd quarter. Advisor Group Holdings Inc. now owns 23,010 shares of the semiconductor company’s stock worth $195,000 after purchasing an additional 1,800 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Applied Optoelectronics by 126.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 125,351 shares of the semiconductor company’s stock worth $1,059,000 after purchasing an additional 70,079 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Applied Optoelectronics in the 2nd quarter worth about $112,000. Principal Financial Group Inc. lifted its position in shares of Applied Optoelectronics by 1.2% in the 2nd quarter. Principal Financial Group Inc. now owns 170,864 shares of the semiconductor company’s stock worth $1,447,000 after purchasing an additional 2,037 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in shares of Applied Optoelectronics by 28.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 22,031 shares of the semiconductor company’s stock worth $186,000 after purchasing an additional 4,855 shares during the period. 47.48% of the stock is owned by hedge funds and other institutional investors.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc engages in the design and manufacture of optical communications products. Its products include optical devices, such as laser diodes, photodiodes, related modules and circuitry, and equipment for applications in fiber-to-the-home, cable television, point to point communications and wireless.

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