DA Davidson Downgrades Applied Optoelectronics (AAOI) to Neutral

Applied Optoelectronics (NASDAQ:AAOI) was downgraded by equities researchers at DA Davidson from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, The Fly reports.

AAOI has been the subject of several other 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 note on Wednesday, February 6th. ValuEngine cut shares of Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Loop Capital decreased their target price on shares of Applied Optoelectronics to $8.00 and set a “sell” rating for the company in a research note on Thursday, November 8th. Finally, B. Riley decreased 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 note on Monday, November 5th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $23.20.

AAOI opened at $14.60 on Friday. 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 1 year low of $13.42 and a 1 year high of $50.30. The firm has a market capitalization of $289.26 million, a P/E ratio of 3.45, a PEG ratio of 0.56 and a beta of 2.49.

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $15.40, for a total transaction of $30,800.00. Following the completion of the transaction, the chief financial officer now directly owns 64,520 shares in the company, valued at $993,608. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,000 shares of company stock valued at $63,220 over the last 90 days. 6.90% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Applied Optoelectronics by 0.8% during the fourth quarter. BlackRock Inc. now owns 2,823,899 shares of the semiconductor company’s stock worth $43,573,000 after acquiring an additional 22,134 shares during the period. Vanguard Group Inc. raised its position in shares of Applied Optoelectronics by 5.7% in the third quarter. Vanguard Group Inc. now owns 1,170,718 shares of the semiconductor company’s stock valued at $28,870,000 after buying an additional 63,087 shares during the last quarter. Vanguard Group Inc raised its position in shares of Applied Optoelectronics by 5.7% in the third quarter. Vanguard Group Inc now owns 1,170,718 shares of the semiconductor company’s stock valued at $28,870,000 after buying an additional 63,087 shares during the last quarter. Investment Counselors of Maryland LLC raised its position in shares of Applied Optoelectronics by 2.2% in the fourth quarter. Investment Counselors of Maryland LLC now owns 449,510 shares of the semiconductor company’s stock valued at $6,936,000 after buying an additional 9,529 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Applied Optoelectronics by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 322,712 shares of the semiconductor company’s stock valued at $7,959,000 after buying an additional 5,559 shares during the last quarter. Institutional investors own 66.68% of the company’s stock.

About Applied Optoelectronics

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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