Applied Optoelectronics earnings dumper, pain now for gain later?
AAOI has been the subject of several other reports. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price target on shares of Applied Optoelectronics in a report on Wednesday, October 9th. B. Riley lowered their price target on Applied Optoelectronics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Raymond James raised Applied Optoelectronics from a "market perform" rating to an "outperform" rating and set a $17.00 price target for the company in a research report on Tuesday, September 3rd. Finally, B. Riley Financial reaffirmed a "neutral" rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Applied Optoelectronics currently has an average rating of "Hold" and an average price target of $13.75.
Check Out Our Latest Report on Applied Optoelectronics
AAOI stock opened at $17.45 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $678.94 million, a PE ratio of -9.59 and a beta of 1.96. Applied Optoelectronics has a 12-month low of $6.70 and a 12-month high of $24.75. The business's fifty day moving average price is $13.79 and its 200 day moving average price is $11.34.
Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.01. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The company had revenue of $43.27 million for the quarter, compared to the consensus estimate of $44.14 million. During the same quarter in the prior year, the business earned ($0.31) EPS. Applied Optoelectronics's revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Optoelectronics will post -1.08 EPS for the current year.
In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the sale, the insider now directly owns 132,921 shares of the company's stock, valued at approximately $1,996,473.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.40% of the company's stock.
A number of institutional investors and hedge funds have recently modified their holdings of AAOI. Shellback Capital LP acquired a new position in Applied Optoelectronics during the 2nd quarter worth approximately $8,617,000. Goldman Sachs Group Inc. boosted its holdings in shares of Applied Optoelectronics by 9,687.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company's stock valued at $16,498,000 after buying an additional 845,223 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Applied Optoelectronics by 29.2% in the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company's stock valued at $27,089,000 after buying an additional 442,277 shares during the last quarter. Caxton Associates LP boosted its holdings in shares of Applied Optoelectronics by 550.5% in the 2nd quarter. Caxton Associates LP now owns 411,054 shares of the semiconductor company's stock valued at $3,408,000 after buying an additional 347,867 shares during the last quarter. Finally, Whale Rock Capital Management LLC raised its stake in Applied Optoelectronics by 30.0% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,333,957 shares of the semiconductor company's stock valued at $18,489,000 after acquiring an additional 308,172 shares during the period. 61.72% of the stock is owned by institutional investors.
Applied Optoelectronics, Inc designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Applied Optoelectronics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Applied Optoelectronics wasn't on the list.
While Applied Optoelectronics currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.