Zacks Investment Research upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) from a sell rating to a hold rating in a report released on Wednesday.

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. “

Several other research analysts also recently issued reports on the company. BidaskClub raised Applied Optoelectronics from a strong sell rating to a sell rating in a research note on Monday, February 5th. ValuEngine downgraded Applied Optoelectronics from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. Loop Capital began coverage on Applied Optoelectronics in a research note on Monday, January 29th. They issued a hold rating and a $35.00 price objective for the company. Piper Jaffray Companies downgraded Applied Optoelectronics from an overweight rating to a neutral rating in a research note on Monday, January 29th. Finally, B. Riley began coverage on Applied Optoelectronics in a research note on Wednesday, January 10th. They issued a neutral rating and a $38.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $55.89.

Applied Optoelectronics (NASDAQ AAOI) opened at $30.72 on Wednesday. Applied Optoelectronics has a 52 week low of $30.30 and a 52 week high of $103.41. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $570.71, a P/E ratio of 7.33, a PEG ratio of 0.64 and a beta of 2.51.

In other Applied Optoelectronics news, insider Chih-Hsiang (Thompson) Lin sold 3,600 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $45.24, for a total transaction of $162,864.00. Following the completion of the sale, the insider now owns 522,837 shares of the company’s stock, valued at approximately $23,653,145.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard B. Black sold 1,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $35.37, for a total transaction of $35,370.00. Following the sale, the director now directly owns 34,478 shares of the company’s stock, valued at approximately $1,219,486.86. The disclosure for this sale can be found here. Insiders have sold a total of 6,900 shares of company stock valued at $297,554 in the last three months. Insiders own 8.19% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Resources Investment Advisors Inc. increased its position in Applied Optoelectronics by 218.5% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,796 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 1,918 shares during the period. Flinton Capital Management LLC acquired a new stake in Applied Optoelectronics during the 2nd quarter valued at approximately $115,000. Citigroup Inc. increased its position in Applied Optoelectronics by 96.2% during the 2nd quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 993 shares during the period. Advisory Services Network LLC bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $137,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $149,000. 75.68% of the stock is owned by institutional investors and hedge funds.

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Applied Optoelectronics Company Profile

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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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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