Applied Optoelectronics (NASDAQ:AAOI) Lifted 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 research report sent to investors on Tuesday morning, 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. “

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

AAOI opened at $9.97 on Tuesday. The firm has a market capitalization of $196.90 million, a price-to-earnings ratio of 18.81 and a beta of 2.20. Applied Optoelectronics has a twelve month low of $8.56 and a twelve month high of $50.30. The stock’s 50-day simple moving average is $9.39. 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 released its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). The company had revenue of $52.72 million during the quarter, compared to analysts’ expectations of $52.86 million. Applied Optoelectronics had a negative net margin of 5.78% and a negative return on equity of 0.36%. Applied Optoelectronics’s revenue was down 19.2% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. Equities analysts anticipate that Applied Optoelectronics will post -1.52 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Cerebellum GP LLC bought a new stake in shares of Applied Optoelectronics in the first quarter worth about $72,000. Royce & Associates LP bought a new stake in Applied Optoelectronics in the 1st quarter worth approximately $3,908,000. Synovus Financial Corp grew its position in Applied Optoelectronics by 25.1% in the 1st quarter. Synovus Financial Corp now owns 12,787 shares of the semiconductor company’s stock worth $158,000 after purchasing an additional 2,568 shares during the period. Virtu Financial LLC grew its position in Applied Optoelectronics by 15.3% in the 1st quarter. Virtu Financial LLC now owns 26,169 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 3,479 shares during the period. Finally, Deutsche Bank AG grew its position in Applied Optoelectronics by 521.4% in the 4th quarter. Deutsche Bank AG now owns 236,345 shares of the semiconductor company’s stock worth $3,646,000 after purchasing an additional 198,312 shares during the period. Institutional investors own 63.25% of the company’s stock.

Applied Optoelectronics Company Profile

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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