Applied Optoelectronics (NASDAQ:AAOI) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) from a strong sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.

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. “

A number of other equities analysts have also recently commented on the stock. Piper Jaffray Companies set a $55.00 price objective on shares of Pacira Biosciences and gave the stock a buy rating in a research note on Tuesday, April 9th. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. TheStreet cut shares of Trade Desk from a b- rating to a c- rating in a research note on Thursday, May 9th. BidaskClub raised shares of YRC Worldwide from a hold rating to a buy rating in a research note on Saturday, April 13th. Finally, Rosenblatt Securities raised shares of Applied Optoelectronics from a sell rating to a neutral rating and set a $10.00 price objective for the company in a research note on Thursday, June 27th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $20.50.

Shares of NASDAQ:AAOI opened at $9.90 on Tuesday. Applied Optoelectronics has a 52 week low of $8.56 and a 52 week high of $50.30. The stock has a market cap of $205.05 million, a PE ratio of 18.68 and a beta of 2.20. The business has a fifty day simple moving average of $9.37. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.32.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). Applied Optoelectronics had a negative return on equity of 0.36% and a negative net margin of 5.78%. The business had revenue of $52.72 million during the quarter, compared to analysts’ expectations of $52.86 million. During the same period in the previous year, the business earned $0.28 earnings per share. The business’s quarterly revenue was down 19.2% on a year-over-year basis. On average, equities research analysts forecast that Applied Optoelectronics will post -1.52 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in AAOI. NumerixS Investment Technologies Inc purchased a new position in shares of Applied Optoelectronics during the 4th quarter worth about $29,000. Neuburgh Advisers LLC boosted its position in Applied Optoelectronics by 41.2% in the 4th quarter. Neuburgh Advisers LLC now owns 3,542 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 1,034 shares during the period. Advisor Group Inc. boosted its position in Applied Optoelectronics by 24.4% in the 4th quarter. Advisor Group Inc. now owns 4,097 shares of the semiconductor company’s stock valued at $63,000 after buying an additional 803 shares during the period. Cerebellum GP LLC purchased a new stake in Applied Optoelectronics in the 1st quarter valued at about $72,000. Finally, Flinton Capital Management LLC boosted its position in Applied Optoelectronics by 41.2% in the 4th quarter. Flinton Capital Management LLC now owns 5,474 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 1,598 shares during the period. 63.25% of the stock is owned by hedge funds and other 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.

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