BidaskClub Lowers Applied Optoelectronics (AAOI) to Hold

Applied Optoelectronics (NASDAQ:AAOI) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, May 15th.

Other equities research analysts also recently issued research reports about the stock. Cowen restated an “outperform” rating and issued a $53.00 target price (down previously from $60.00) on shares of Applied Optoelectronics in a research note on Thursday, February 22nd. Craig Hallum set a $32.00 price target on Applied Optoelectronics and gave the company a “hold” rating in a report on Tuesday, February 13th. Zacks Investment Research raised Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Piper Jaffray Companies cut Applied Optoelectronics from an “overweight” rating to a “neutral” rating in a report on Monday, January 29th. Finally, B. Riley cut their price target on Applied Optoelectronics from $32.00 to $30.50 and set a “neutral” rating for the company in a report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $48.03.

AAOI opened at $33.67 on Tuesday. Applied Optoelectronics has a fifty-two week low of $22.54 and a fifty-two week high of $103.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.14 and a current ratio of 3.46. The firm has a market cap of $651.20 million, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 1.75 and a beta of 2.59.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.05). Applied Optoelectronics had a return on equity of 20.82% and a net margin of 16.02%. The business had revenue of $65.20 million for the quarter, compared to analyst estimates of $68.94 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The firm’s quarterly revenue was down 32.2% on a year-over-year basis. sell-side analysts anticipate that Applied Optoelectronics will post 1.68 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Resources Investment Advisors Inc. grew its position in shares of Applied Optoelectronics by 218.5% in the 4th 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 period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Applied Optoelectronics in the 4th quarter valued at approximately $113,000. Financial Gravity Companies Inc. acquired a new position in shares of Applied Optoelectronics in the 4th quarter valued at approximately $134,000. Financial Gravity Wealth Inc. acquired a new position in shares of Applied Optoelectronics in the 1st quarter valued at approximately $143,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Applied Optoelectronics by 29.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the semiconductor company’s stock valued at $195,000 after purchasing an additional 1,744 shares during the period. 68.55% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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