Needham & Company LLC Raises Applied Optoelectronics, Inc. (NASDAQ:AAOI) Price Target to $115.00

Applied Optoelectronics, Inc. (NASDAQ:AAOI) had its target price raised by Needham & Company LLC from $100.00 to $115.00 in a research report report published on Monday, July 24th, Marketbeat Ratings reports. Needham & Company LLC currently has a strong-buy rating on the semiconductor company’s stock.

Several other brokerages have also weighed in on AAOI. BidaskClub raised Applied Optoelectronics from a buy rating to a strong-buy rating in a research report on Wednesday, July 19th. BWS Financial reaffirmed a sell rating and issued a $25.00 target price on shares of Applied Optoelectronics in a research report on Saturday, July 22nd. Roth Capital increased their target price on Applied Optoelectronics from $70.00 to $90.00 and gave the stock a buy rating in a research report on Thursday, July 13th. ValuEngine lowered Applied Optoelectronics from a buy rating to a hold rating in a research report on Thursday, July 13th. Finally, Vetr cut Applied Optoelectronics from a strong-buy rating to a buy rating and set a $84.73 price target for the company. in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, six have given a buy rating and six have assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $76.98.

Applied Optoelectronics (AAOI) traded down 0.64% during mid-day trading on Monday, reaching $64.10. 1,952,311 shares of the company’s stock were exchanged. Applied Optoelectronics has a 52 week low of $13.34 and a 52 week high of $103.41. The company has a market capitalization of $1.24 billion, a P/E ratio of 15.23 and a beta of 2.98. The company’s 50 day moving average price is $78.28 and its 200-day moving average price is $59.12.

Applied Optoelectronics (NASDAQ:AAOI) last posted 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 business had revenue of $117.40 million for the quarter, compared to analyst estimates of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The business’s revenue was up 112.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. On average, equities research analysts expect that Applied Optoelectronics will post $5.38 earnings per share for the current fiscal year.

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In related news, insider Shu-Hua (Joshua) Yeh sold 10,000 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $68.06, for a total value of $680,600.00. Following the completion of the sale, the insider now directly owns 99,742 shares of the company’s stock, valued at approximately $6,788,440.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David C. Kuo sold 507 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $70.00, for a total value of $35,490.00. Following the completion of the sale, the general counsel now directly owns 26,307 shares of the company’s stock, valued at $1,841,490. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,140 shares of company stock valued at $5,894,795. Company insiders own 8.19% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC bought a new position in shares of Applied Optoelectronics during the second quarter worth $137,000. Public Employees Retirement System of Ohio increased its position in shares of Applied Optoelectronics by 132.5% in the second quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock worth $7,614,000 after buying an additional 70,224 shares during the last quarter. Sterneck Capital Management LLC bought a new position in shares of Applied Optoelectronics during the second quarter worth $247,000. Piedmont Investment Advisors LLC bought a new position in shares of Applied Optoelectronics during the second quarter worth $236,000. Finally, Private Advisory Group LLC increased its position in shares of Applied Optoelectronics by 25.4% in the second quarter. Private Advisory Group LLC now owns 6,672 shares of the semiconductor company’s stock worth $413,000 after buying an additional 1,350 shares during the last quarter. 79.40% of the stock is currently owned by institutional investors and hedge funds.

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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