Published On: Wed, Sep 7th, 2016

Applied Optoelectronics Inc. (AAOI) Shares Down 2.4%

Applied Optoelectronics Inc. (NASDAQ:AAOI)’s share price traded down 2.4% during mid-day trading on Tuesday . The stock traded as low as $17.04 and last traded at $17.09, with a volume of 122,330 shares trading hands. The stock had previously closed at $17.51.
Several equities analysts recently issued reports on the stock. Piper Jaffray Cos. reiterated a “buy” rating and issued a $14.00 target price (down from $21.00) on shares of Applied Optoelectronics in a research note on Tuesday, May 10th. Roth Capital reiterated a “buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Cowen and Company reiterated a “buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, May 10th. Finally, Craig Hallum boosted their target price on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.40.
The company has a market capitalization of $298.41 million and a P/E ratio of 64.24. The company has a 50 day moving average of $13.93 and a 200 day moving average of $13.12.

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Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.10. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company earned $55.30 million during the quarter, compared to analysts’ expectations of $50.84 million. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts expect that Applied Optoelectronics Inc. will post $0.58 earnings per share for the current year.
In other Applied Optoelectronics news, Director Alan D. Moore bought 105,000 shares of the stock in a transaction dated Thursday, June 16th. The shares were acquired at an average cost of $10.08 per share, for a total transaction of $1,058,400.00. Following the completion of the transaction, the director now owns 222,542 shares in the company, valued at approximately $2,243,223.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for three networking end-markets: Internet data center, cable television (CATV) and fiber-to-the-home (FTTH). The Company designs and manufactures optical communications products at varying levels of integration, from components, subassemblies and modules to turn-key equipment.

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