Applied Optoelectronics Inc (NASDAQ:AAOI) – Research analysts at B. Riley reduced their Q1 2018 earnings per share (EPS) estimates for Applied Optoelectronics in a report issued on Friday. B. Riley analyst D. Kang now anticipates that the semiconductor company will post earnings per share of $0.66 for the quarter, down from their previous estimate of $0.70. B. Riley has a “Neutral” rating and a $38.00 price objective on the stock. B. Riley also issued estimates for Applied Optoelectronics’ Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.71 EPS and FY2018 earnings at $2.72 EPS.
Several other analysts have also issued reports on the stock. Cowen reiterated a “buy” rating and issued a $60.00 target price (down previously from $74.00) on shares of Applied Optoelectronics in a research note on Thursday, December 7th. Zacks Investment Research lowered shares of Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 2nd. Needham & Company LLC reduced their target price on shares of Applied Optoelectronics from $75.00 to $50.00 and set a “strong-buy” rating for the company in a research note on Wednesday, November 8th. Loop Capital initiated coverage on shares of Applied Optoelectronics in a research note on Monday, January 29th. They issued a “hold” rating and a $35.00 target price for the company. Finally, BidaskClub lowered shares of Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 9th. Four analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $51.53.
In related news, Director Richard B. Black sold 1,000 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $35.37, for a total transaction of $35,370.00. Following the completion of the transaction, the director now owns 34,478 shares in the company, valued at $1,219,486.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.19% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of AAOI. State of Tennessee Treasury Department grew its position in Applied Optoelectronics by 113.9% during the third quarter. State of Tennessee Treasury Department now owns 815,552 shares of the semiconductor company’s stock valued at $52,742,000 after buying an additional 434,207 shares during the period. Vanguard Group Inc. grew its position in Applied Optoelectronics by 49.8% during the second quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock valued at $58,917,000 after buying an additional 317,033 shares during the period. TT International bought a new position in Applied Optoelectronics during the third quarter valued at about $19,089,000. Newtyn Management LLC bought a new position in Applied Optoelectronics during the third quarter valued at about $12,934,000. Finally, Marble Arch Investments LP grew its position in Applied Optoelectronics by 104.8% during the fourth quarter. Marble Arch Investments LP now owns 360,000 shares of the semiconductor company’s stock valued at $13,615,000 after buying an additional 184,200 shares during the period. Institutional investors own 74.26% 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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