Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Applied Optoelectronics from a hold rating to a buy rating and set a $22.00 target price for the company in a research note on Thursday, September 8th. Roth Capital reaffirmed a buy rating on shares of Applied Optoelectronics in a research note on Tuesday, August 2nd. Finally, Craig Hallum upped their target price on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the stock a buy rating in a research note on Thursday, August 25th. Seven investment analysts have rated the stock with a buy rating, The stock has an average rating of Buy and a consensus price target of $21.83.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded up 0.89% during mid-day trading on Monday, hitting $21.63. The company had a trading volume of 262,242 shares. Applied Optoelectronics has a one year low of $8.08 and a one year high of $22.47. The firm’s 50-day moving average price is $18.66 and its 200 day moving average price is $13.65. The company has a market capitalization of $370.74 million, a P/E ratio of 79.82 and a beta of 2.27.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.10. Applied Optoelectronics had a net margin of 2.16% and a return on equity of 6.01%. The company earned $55.30 million during the quarter, compared to analyst estimates of $50.84 million. During the same quarter in the previous year, the business earned $0.38 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Analysts predict that Applied Optoelectronics will post $0.70 earnings per share for the current fiscal year.
In other news, CFO Stefan J. Murry sold 3,660 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $19.05, for a total transaction of $69,723.00. Following the completion of the transaction, the chief financial officer now directly owns 35,093 shares in the company, valued at approximately $668,521.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.19% of the company’s stock.
Several institutional investors have recently bought and sold shares of AAOI. AQR Capital Management LLC boosted its stake in shares of Applied Optoelectronics by 23.2% in the second quarter. AQR Capital Management LLC now owns 41,529 shares of the company’s stock worth $463,000 after buying an additional 7,832 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Applied Optoelectronics during the second quarter worth about $215,000. Guggenheim Capital LLC boosted its stake in shares of Applied Optoelectronics by 69.5% in the second quarter. Guggenheim Capital LLC now owns 105,586 shares of the company’s stock worth $1,177,000 after buying an additional 43,281 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Applied Optoelectronics by 6.4% in the second quarter. Marshall Wace LLP now owns 18,354 shares of the company’s stock worth $205,000 after buying an additional 1,098 shares during the last quarter. Finally, S Squared Technology LLC purchased a new stake in shares of Applied Optoelectronics during the second quarter worth about $1,967,000. Institutional investors own 78.60% of the company’s stock.
About Applied Optoelectronics
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products. The Company offers its products for approximately three networking end markets, such as Internet data center; cable television (CATV), and fiber-to-the-home (FTTH). 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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