Applied Optoelectronics, Inc. (NASDAQ:AAOI) Downgraded by Vetr Inc. to Buy

Vetr downgraded shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) from a strong-buy rating to a buy rating in a report published on Friday. Vetr currently has $84.73 price target on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the stock. Vertical Research reaffirmed a sell rating on shares of Applied Optoelectronics in a report on Thursday, March 30th. BidaskClub raised shares of Applied Optoelectronics from a hold rating to a buy rating in a report on Wednesday, July 12th. Roth Capital upped their target price on shares of Applied Optoelectronics from $70.00 to $90.00 in a report on Thursday. Cowen and Company reissued an outperform rating and issued a $94.00 price target on shares of Applied Optoelectronics in a report on Thursday, May 25th. Finally, ValuEngine cut shares of Applied Optoelectronics from a buy rating to a hold rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Applied Optoelectronics has an average rating of Buy and an average target price of $78.97.

Shares of Applied Optoelectronics (NASDAQ AAOI) traded down 0.02% during midday trading on Friday, hitting $84.18. The stock had a trading volume of 4,192,865 shares. The company’s 50 day moving average price is $65.96 and its 200-day moving average price is $46.42. The firm has a market capitalization of $1.60 billion, a PE ratio of 29.66 and a beta of 2.85. Applied Optoelectronics has a 1-year low of $11.38 and a 1-year high of $86.36. Applied Optoelectronics also saw some unusual options trading activity on Friday. Stock investors purchased 9,719 call options on the company. This is an increase of 143% compared to the average volume of 3,995 call options.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, May 4th. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. The company had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $96.20 million. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. Applied Optoelectronics’s quarterly revenue was up 90.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) EPS. Equities analysts predict that Applied Optoelectronics will post $5.01 earnings per share for the current year.

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In other Applied Optoelectronics news, CFO Stefan J. Murry sold 3,168 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $63.51, for a total value of $201,199.68. Following the transaction, the chief financial officer now directly owns 58,526 shares of the company’s stock, valued at approximately $3,716,986.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard B. Black sold 1,000 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $59.70, for a total transaction of $59,700.00. Following the completion of the transaction, the director now directly owns 40,478 shares in the company, valued at $2,416,536.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,048 shares of company stock worth $7,713,586. Insiders own 8.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAOI. Legal & General Group Plc raised its position in shares of Applied Optoelectronics by 3.6% in the first quarter. Legal & General Group Plc now owns 4,412 shares of the semiconductor company’s stock worth $248,000 after buying an additional 153 shares during the last quarter. ClariVest Asset Management LLC raised its position in shares of Applied Optoelectronics by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 5,345 shares of the semiconductor company’s stock worth $300,000 after buying an additional 271 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Applied Optoelectronics by 3.1% in the first quarter. Nationwide Fund Advisors now owns 10,566 shares of the semiconductor company’s stock worth $593,000 after buying an additional 315 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Applied Optoelectronics by 2.3% in the first quarter. Teachers Advisors LLC now owns 29,403 shares of the semiconductor company’s stock worth $1,651,000 after buying an additional 668 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Applied Optoelectronics by 7.1% in the first quarter. American International Group Inc. now owns 10,158 shares of the semiconductor company’s stock worth $570,000 after buying an additional 673 shares during the last quarter. 78.42% of the stock is currently owned by hedge funds and other institutional investors.

About Applied Optoelectronics

Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.

To view Vetr’s full report, visit Vetr’s official website.

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