Applied Optoelectronics, Inc. (AAOI) Given “Overweight” Rating at Piper Jaffray Companies

Applied Optoelectronics, Inc. (NASDAQ:AAOI)‘s stock had its “overweight” rating reissued by investment analysts at Piper Jaffray Companies in a report released on Thursday, July 13th, MarketBeat.com reports. They currently have a $90.00 price objective on the semiconductor company’s stock, up from their prior price objective of $85.00. Piper Jaffray Companies’ target price would indicate a potential upside of 36.70% from the company’s current price.

Several other equities research analysts also recently issued reports on AAOI. Vetr downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $75.55 price target on the stock. in a research report on Monday, May 22nd. DA Davidson began coverage on shares of Applied Optoelectronics in a research note on Thursday, June 29th. They issued a “buy” rating and a $95.00 target price for the company. ValuEngine upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. BidaskClub cut shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Roth Capital reiterated a “buy” rating and issued a $70.00 target price (up previously from $60.00) on shares of Applied Optoelectronics in a research note on Friday, May 5th. Three analysts have rated the stock with a sell rating, six have assigned a buy rating and six have given a strong buy rating to the company’s stock. Applied Optoelectronics currently has an average rating of “Buy” and an average price target of $76.98.

Applied Optoelectronics (NASDAQ:AAOI) traded up 3.60% on Thursday, hitting $65.84. The company had a trading volume of 2,855,193 shares. The stock has a market cap of $1.27 billion, a P/E ratio of 15.64 and a beta of 2.98. The firm’s 50 day moving average price is $77.51 and its 200 day moving average price is $57.62. Applied Optoelectronics has a 12-month low of $13.06 and a 12-month high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.28. The company had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm’s revenue was up 112.3% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. Equities analysts predict that Applied Optoelectronics will post $5.38 earnings per share for the current fiscal year.

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In other news, General Counsel David C. Kuo sold 578 shares of Applied Optoelectronics stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $96.47, for a total value of $55,759.66. Following the completion of the transaction, the general counsel now owns 23,753 shares in the company, valued at $2,291,451.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chewei Lin sold 7,500 shares of Applied Optoelectronics stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $64.00, for a total transaction of $480,000.00. Following the completion of the transaction, the director now owns 53,717 shares of the company’s stock, valued at approximately $3,437,888. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,758 shares of company stock valued at $6,295,754. Corporate insiders own 8.19% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. boosted its position in Applied Optoelectronics by 82.3% in the second quarter. Advisor Group Inc. now owns 2,505 shares of the semiconductor company’s stock worth $155,000 after buying an additional 1,131 shares during the period. Quantbot Technologies LP purchased a new position in Applied Optoelectronics during the second quarter worth about $563,000. California Public Employees Retirement System boosted its position in Applied Optoelectronics by 16.8% in the second quarter. California Public Employees Retirement System now owns 46,600 shares of the semiconductor company’s stock worth $2,879,000 after buying an additional 6,700 shares during the period. MML Investors Services LLC boosted its position in Applied Optoelectronics by 228.5% in the second quarter. MML Investors Services LLC now owns 13,077 shares of the semiconductor company’s stock worth $808,000 after buying an additional 9,096 shares during the period. Finally, FMR LLC purchased a new position in Applied Optoelectronics during the second quarter worth about $45,101,000. Institutional investors own 77.36% of the company’s stock.

Applied Optoelectronics Company Profile

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.

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