Applied Optoelectronics (AAOI) Given “Sell” Rating at Rosenblatt Securities

Rosenblatt Securities reaffirmed their sell rating on shares of Applied Optoelectronics (NASDAQ:AAOI) in a research report report published on Tuesday, The Fly reports. Rosenblatt Securities currently has a $10.00 price objective on the semiconductor company’s stock, down from their previous price objective of $15.00.

AAOI has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Applied Optoelectronics from a hold rating to a buy rating and set a $19.00 target price for the company in a research report on Wednesday, February 6th. Loop Capital dropped their target price on shares of Applied Optoelectronics to $8.00 and set a sell rating for the company in a research report on Thursday, November 8th. ValuEngine upgraded shares of Applied Optoelectronics from a sell rating to a hold rating in a research report on Thursday, November 15th. Finally, B. Riley dropped their target price on shares of Applied Optoelectronics from $24.00 to $22.00 and set a neutral rating for the company in a research report on Monday, November 5th. Six analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Applied Optoelectronics has a consensus rating of Hold and a consensus target price of $24.00.

Shares of Applied Optoelectronics stock opened at $14.66 on Tuesday. The stock has a market cap of $312.23 million, a P/E ratio of 3.47, a PEG ratio of 0.61 and a beta of 2.49. The company has a quick ratio of 1.30, a current ratio of 2.60 and a debt-to-equity ratio of 0.19. Applied Optoelectronics has a 12-month low of $13.42 and a 12-month high of $50.30.

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,000 shares of the stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $15.40, for a total transaction of $30,800.00. Following the sale, the chief financial officer now owns 64,520 shares of the company’s stock, valued at approximately $993,608. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 4,000 shares of company stock worth $63,220. Insiders own 6.90% of the company’s stock.

A number of large investors have recently modified their holdings of AAOI. Bank of America Corp DE grew its holdings in Applied Optoelectronics by 4.5% during the 2nd quarter. Bank of America Corp DE now owns 39,021 shares of the semiconductor company’s stock worth $1,752,000 after acquiring an additional 1,669 shares during the last quarter. Millennium Management LLC bought a new stake in Applied Optoelectronics during the 2nd quarter worth about $788,000. Northern Trust Corp grew its holdings in Applied Optoelectronics by 3.2% during the 2nd quarter. Northern Trust Corp now owns 224,674 shares of the semiconductor company’s stock worth $10,088,000 after acquiring an additional 6,884 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Applied Optoelectronics during the 3rd quarter worth about $908,000. Finally, Shufro Rose & Co. LLC bought a new stake in Applied Optoelectronics during the 3rd quarter worth about $247,000. 66.66% of the stock is currently owned by hedge funds and other institutional investors.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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The Fly

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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