Applied Optoelectronics (AAOI) Stock Rating Upgraded by Zacks Investment Research

Applied Optoelectronics (NASDAQ:AAOI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Applied Optoelectronics, Inc. designs, develops and manufactures advanced optical devices, packaged optical components, optical subsystems, laser transmitters and fiber optic transceivers. The company’s products are used in fiber optic communications equipment for FTTH, point-to-point telecom, datacom and access networks and systems supporting cable television, network infrastructure. Applied Optoelectronics, Inc. is headquartered in Sugar Land, Texas. “

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Several other equities research analysts also recently weighed in on the company. ValuEngine downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. DA Davidson set a $55.00 target price on Applied Optoelectronics and gave the stock a “buy” rating in a research report on Thursday, February 22nd. BidaskClub raised Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Craig Hallum set a $32.00 target price on Applied Optoelectronics and gave the stock a “hold” rating in a research report on Tuesday, February 13th. Finally, Loop Capital began coverage on Applied Optoelectronics in a research report on Monday, January 29th. They issued a “hold” rating and a $35.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and four have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.03.

Shares of NASDAQ:AAOI opened at $32.62 on Tuesday. The stock has a market cap of $641.57, a price-to-earnings ratio of 7.80, a PEG ratio of 1.22 and a beta of 2.63. The company has a quick ratio of 2.18, a current ratio of 3.25 and a debt-to-equity ratio of 0.15. Applied Optoelectronics has a 12 month low of $22.54 and a 12 month high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The company had revenue of $79.86 million during the quarter, compared to analyst estimates of $86.22 million. Applied Optoelectronics had a return on equity of 30.08% and a net margin of 19.34%. research analysts predict that Applied Optoelectronics will post 1.88 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Applied Optoelectronics by 27.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,488 shares of the semiconductor company’s stock valued at $548,000 after purchasing an additional 1,838 shares during the last quarter. Resources Investment Advisors Inc. boosted its holdings in Applied Optoelectronics by 218.5% in the fourth quarter. Resources Investment Advisors Inc. now owns 2,796 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 1,918 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Applied Optoelectronics by 27.6% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 9,280 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 2,010 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in Applied Optoelectronics by 51.1% in the fourth quarter. OppenheimerFunds Inc. now owns 6,394 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 2,161 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Applied Optoelectronics by 8.3% in the third quarter. Legal & General Group Plc now owns 34,863 shares of the semiconductor company’s stock valued at $2,255,000 after purchasing an additional 2,670 shares during the last quarter. 63.19% of the stock is owned by hedge funds and other institutional investors.

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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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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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