DA Davidson set a $55.00 price objective on Applied Optoelectronics (NASDAQ:AAOI) in a research note released on Thursday, February 22nd. The firm currently has a buy rating on the semiconductor company’s stock.
A number of other research firms have also recently commented on AAOI. Zacks Investment Research cut shares of Applied Optoelectronics from a hold rating to a strong sell rating in a report on Tuesday, January 2nd. Loop Capital began coverage on shares of Applied Optoelectronics in a report on Monday, January 29th. They issued a hold rating and a $35.00 price target for the company. Craig Hallum set a $32.00 price objective on shares of Applied Optoelectronics and gave the company a hold rating in a report on Tuesday, February 13th. Needham & Company LLC reduced their price objective on shares of Applied Optoelectronics from $75.00 to $50.00 and set a strong-buy rating for the company in a report on Wednesday, November 8th. Finally, TheStreet cut shares of Applied Optoelectronics from a b- rating to a c rating in a report on Wednesday, November 15th. Six research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Applied Optoelectronics presently has a consensus rating of Hold and a consensus target price of $48.03.
Shares of Applied Optoelectronics (NASDAQ AAOI) opened at $28.70 on Thursday. The company has a quick ratio of 2.18, a current ratio of 3.25 and a debt-to-equity ratio of 0.15. The company has a market cap of $559.67, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 0.99 and a beta of 2.58. Applied Optoelectronics has a twelve month low of $26.11 and a twelve month high of $103.41.
In related news, Director Richard B. Black sold 1,000 shares of the business’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $35.37, for a total transaction of $35,370.00. Following the transaction, the director now directly owns 34,478 shares in the company, valued at $1,219,486.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.19% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC purchased a new position in Applied Optoelectronics during the fourth quarter worth about $326,000. Municipal Employees Retirement System of Michigan boosted its holdings in Applied Optoelectronics by 27.6% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 9,280 shares of the semiconductor company’s stock worth $351,000 after purchasing an additional 2,010 shares during the last quarter. Marble Arch Investments LP boosted its holdings in Applied Optoelectronics by 104.8% during the fourth quarter. Marble Arch Investments LP now owns 360,000 shares of the semiconductor company’s stock worth $13,615,000 after purchasing an additional 184,200 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in Applied Optoelectronics by 456.2% during the fourth quarter. Guggenheim Capital LLC now owns 153,515 shares of the semiconductor company’s stock worth $5,805,000 after purchasing an additional 125,915 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Applied Optoelectronics by 160.9% during the fourth quarter. Deutsche Bank AG now owns 46,220 shares of the semiconductor company’s stock worth $1,746,000 after purchasing an additional 28,503 shares during the last quarter. Institutional investors and hedge funds own 62.14% of the company’s stock.
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About Applied Optoelectronics
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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