Rosenblatt Securities restated their sell rating on shares of Applied Optoelectronics (NASDAQ:AAOI) in a research note published on Monday, AnalystRatings.com reports. The firm currently has a $10.00 price target on the semiconductor company’s stock.
“We believe Applied Optoelectronics (AAOI: Sell) lost all market share at Facebook (FB: Buy) to Finisar (FNSR: NR) in Q2. The company still shipped 40G products to Facebook and Amazon (AMZN: but we expect total Q2 revenue to drop 20-30% q/q from Q1 this year. We do not expect a second half recovery due to increasing competition and US hyperscale players focus on 400G next year. We will be looking for any progress of AAOI’s 400G products over the next few months. We maintain our sell rating and $10 price target.”,” the firm’s analyst wrote.
AAOI has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Applied Optoelectronics from a hold rating to a buy rating and set a $19.00 target price for the company in a research report on Wednesday, February 6th. ValuEngine cut shares of Applied Optoelectronics from a sell rating to a strong sell rating in a research report on Wednesday, February 20th. Piper Jaffray Companies reduced their target price on shares of Applied Optoelectronics from $12.00 to $11.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. Finally, BidaskClub cut shares of Applied Optoelectronics from a sell rating to a strong sell rating in a research report on Tuesday, March 12th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $20.50.
NASDAQ:AAOI opened at $12.59 on Monday. The company has a quick ratio of 1.30, a current ratio of 2.51 and a debt-to-equity ratio of 0.18. The firm has a market cap of $249.93 million, a price-to-earnings ratio of 23.75 and a beta of 1.99. Applied Optoelectronics has a fifty-two week low of $11.77 and a fifty-two week high of $50.30.
Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, February 21st. The semiconductor company reported ($0.16) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.16). The business had revenue of $58.02 million during the quarter, compared to analysts’ expectations of $60.78 million. Applied Optoelectronics had a negative net margin of 0.80% and a positive return on equity of 3.06%. As a group, equities research analysts predict that Applied Optoelectronics will post -0.82 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System grew its holdings in shares of Applied Optoelectronics by 49.9% in the fourth quarter. California Public Employees Retirement System now owns 88,000 shares of the semiconductor company’s stock valued at $1,358,000 after purchasing an additional 29,300 shares during the period. Teachers Advisors LLC grew its holdings in shares of Applied Optoelectronics by 701.1% in the third quarter. Teachers Advisors LLC now owns 290,563 shares of the semiconductor company’s stock valued at $7,165,000 after purchasing an additional 254,292 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Applied Optoelectronics by 83.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,689 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 767 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in shares of Applied Optoelectronics in the fourth quarter valued at about $29,000. Finally, Vanguard Group Inc grew its holdings in shares of Applied Optoelectronics by 5.7% in the third quarter. Vanguard Group Inc now owns 1,170,718 shares of the semiconductor company’s stock valued at $28,870,000 after purchasing an additional 63,087 shares during the period. 59.89% of the stock is owned by hedge funds and other institutional investors.
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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