Intrinsic value of Applied Optoelectronics - AAOI

Previous Close

$41.47

  Intrinsic Value

$2.94

stock screener

  Rating & Target

str. sell

-93%

Previous close

$41.47

 
Intrinsic value

$2.94

 
Up/down potential

-93%

 
Rating

str. sell

We calculate the intrinsic value of AAOI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  37.37
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  261
  418
  645
  965
  1,400
  1,975
  2,715
  3,645
  4,786
  6,158
  7,779
  9,659
  11,809
  14,234
  16,936
  19,914
  23,164
  26,683
  30,465
  34,503
  38,792
  43,325
  48,099
  53,109
  58,354
  63,831
  69,543
  75,492
  81,681
  88,116
  94,804
Variable operating expenses, $m
 
  365
  564
  843
  1,224
  1,726
  2,373
  3,186
  4,183
  5,382
  6,798
  8,442
  10,321
  12,441
  14,802
  17,405
  20,246
  23,321
  26,626
  30,156
  33,904
  37,866
  42,039
  46,417
  51,001
  55,788
  60,781
  65,980
  71,389
  77,013
  82,859
Fixed operating expenses, $m
 
  10
  11
  11
  11
  11
  12
  12
  12
  12
  13
  13
  13
  14
  14
  14
  15
  15
  16
  16
  16
  17
  17
  18
  18
  19
  19
  19
  20
  20
  21
Total operating expenses, $m
  238
  375
  575
  854
  1,235
  1,737
  2,385
  3,198
  4,195
  5,394
  6,811
  8,455
  10,334
  12,455
  14,816
  17,419
  20,261
  23,336
  26,642
  30,172
  33,920
  37,883
  42,056
  46,435
  51,019
  55,807
  60,800
  65,999
  71,409
  77,033
  82,880
Operating income, $m
  23
  42
  71
  111
  165
  238
  331
  447
  591
  763
  967
  1,204
  1,475
  1,780
  2,120
  2,495
  2,904
  3,347
  3,823
  4,331
  4,871
  5,442
  6,043
  6,674
  7,334
  8,024
  8,743
  9,492
  10,272
  11,082
  11,924
EBITDA, $m
  37
  65
  106
  163
  241
  344
  477
  644
  848
  1,095
  1,386
  1,724
  2,110
  2,546
  3,031
  3,567
  4,151
  4,783
  5,463
  6,189
  6,960
  7,774
  8,632
  9,533
  10,476
  11,460
  12,487
  13,556
  14,669
  15,825
  17,028
Interest expense (income), $m
  2
  1
  3
  6
  10
  15
  22
  31
  42
  56
  72
  91
  114
  140
  169
  201
  237
  276
  318
  364
  412
  464
  518
  575
  635
  698
  764
  833
  904
  978
  1,056
Earnings before tax, $m
  21
  41
  68
  105
  156
  223
  309
  417
  549
  708
  895
  1,112
  1,360
  1,640
  1,951
  2,293
  2,667
  3,071
  3,505
  3,968
  4,459
  4,979
  5,525
  6,099
  6,699
  7,326
  7,979
  8,660
  9,368
  10,104
  10,869
Tax expense, $m
  -10
  11
  18
  28
  42
  60
  83
  112
  148
  191
  242
  300
  367
  443
  527
  619
  720
  829
  946
  1,071
  1,204
  1,344
  1,492
  1,647
  1,809
  1,978
  2,154
  2,338
  2,529
  2,728
  2,935
Net income, $m
  31
  30
  49
  77
  114
  163
  225
  304
  401
  517
  654
  812
  993
  1,197
  1,424
  1,674
  1,947
  2,242
  2,558
  2,896
  3,255
  3,634
  4,033
  4,452
  4,890
  5,348
  5,825
  6,322
  6,838
  7,376
  7,934

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  50
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  322
  435
  672
  1,005
  1,458
  2,057
  2,829
  3,797
  4,985
  6,415
  8,103
  10,062
  12,301
  14,827
  17,642
  20,743
  24,130
  27,795
  31,734
  35,941
  40,408
  45,131
  50,103
  55,322
  60,785
  66,491
  72,441
  78,637
  85,084
  91,787
  98,754
Adjusted assets (=assets-cash), $m
  272
  435
  672
  1,005
  1,458
  2,057
  2,829
  3,797
  4,985
  6,415
  8,103
  10,062
  12,301
  14,827
  17,642
  20,743
  24,130
  27,795
  31,734
  35,941
  40,408
  45,131
  50,103
  55,322
  60,785
  66,491
  72,441
  78,637
  85,084
  91,787
  98,754
Revenue / Adjusted assets
  0.960
  0.961
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
  0.960
Average production assets, $m
  132
  211
  326
  488
  708
  999
  1,374
  1,844
  2,422
  3,116
  3,936
  4,888
  5,976
  7,203
  8,570
  10,076
  11,721
  13,502
  15,415
  17,459
  19,629
  21,923
  24,338
  26,873
  29,527
  32,299
  35,189
  38,199
  41,330
  44,587
  47,971
Working capital, $m
  98
  90
  139
  207
  301
  425
  584
  784
  1,029
  1,324
  1,672
  2,077
  2,539
  3,060
  3,641
  4,281
  4,980
  5,737
  6,550
  7,418
  8,340
  9,315
  10,341
  11,418
  12,546
  13,724
  14,952
  16,231
  17,561
  18,945
  20,383
Total debt, $m
  43
  87
  163
  270
  415
  606
  853
  1,163
  1,543
  2,001
  2,541
  3,168
  3,884
  4,693
  5,593
  6,586
  7,669
  8,842
  10,103
  11,449
  12,879
  14,390
  15,981
  17,651
  19,399
  21,225
  23,129
  25,112
  27,175
  29,320
  31,549
Total liabilities, $m
  95
  139
  215
  322
  467
  658
  905
  1,215
  1,595
  2,053
  2,593
  3,220
  3,936
  4,745
  5,645
  6,638
  7,721
  8,894
  10,155
  11,501
  12,931
  14,442
  16,033
  17,703
  19,451
  21,277
  23,181
  25,164
  27,227
  29,372
  31,601
Total equity, $m
  227
  296
  457
  683
  992
  1,399
  1,923
  2,582
  3,390
  4,362
  5,510
  6,842
  8,365
  10,083
  11,996
  14,105
  16,408
  18,901
  21,579
  24,440
  27,478
  30,689
  34,070
  37,619
  41,334
  45,214
  49,260
  53,473
  57,857
  62,415
  67,153
Total liabilities and equity, $m
  322
  435
  672
  1,005
  1,459
  2,057
  2,828
  3,797
  4,985
  6,415
  8,103
  10,062
  12,301
  14,828
  17,641
  20,743
  24,129
  27,795
  31,734
  35,941
  40,409
  45,131
  50,103
  55,322
  60,785
  66,491
  72,441
  78,637
  85,084
  91,787
  98,754
Debt-to-equity ratio
  0.189
  0.290
  0.360
  0.390
  0.420
  0.430
  0.440
  0.450
  0.460
  0.460
  0.460
  0.460
  0.460
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
  0.470
Adjusted equity ratio
  0.651
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680
  0.680

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  31
  30
  49
  77
  114
  163
  225
  304
  401
  517
  654
  812
  993
  1,197
  1,424
  1,674
  1,947
  2,242
  2,558
  2,896
  3,255
  3,634
  4,033
  4,452
  4,890
  5,348
  5,825
  6,322
  6,838
  7,376
  7,934
Depreciation, amort., depletion, $m
  14
  22
  35
  52
  75
  106
  146
  196
  258
  332
  419
  520
  636
  766
  912
  1,072
  1,247
  1,436
  1,640
  1,857
  2,088
  2,332
  2,589
  2,859
  3,141
  3,436
  3,743
  4,064
  4,397
  4,743
  5,103
Funds from operations, $m
  73
  52
  84
  129
  189
  269
  372
  500
  658
  848
  1,072
  1,332
  1,629
  1,963
  2,336
  2,746
  3,194
  3,678
  4,198
  4,754
  5,343
  5,967
  6,623
  7,311
  8,031
  8,784
  9,568
  10,385
  11,235
  12,119
  13,038
Change in working capital, $m
  16
  34
  49
  69
  94
  124
  159
  200
  245
  295
  348
  404
  462
  521
  581
  640
  699
  757
  813
  868
  922
  975
  1,026
  1,077
  1,128
  1,178
  1,228
  1,279
  1,331
  1,384
  1,438
Cash from operations, $m
  57
  19
  35
  60
  95
  145
  212
  301
  413
  553
  724
  928
  1,167
  1,442
  1,755
  2,106
  2,495
  2,921
  3,385
  3,886
  4,421
  4,992
  5,596
  6,234
  6,904
  7,606
  8,340
  9,106
  9,905
  10,735
  11,600
Maintenance CAPEX, $m
  0
  -14
  -22
  -35
  -52
  -75
  -106
  -146
  -196
  -258
  -332
  -419
  -520
  -636
  -766
  -912
  -1,072
  -1,247
  -1,436
  -1,640
  -1,857
  -2,088
  -2,332
  -2,589
  -2,859
  -3,141
  -3,436
  -3,743
  -4,064
  -4,397
  -4,743
New CAPEX, $m
  -50
  -79
  -115
  -162
  -220
  -291
  -375
  -470
  -577
  -694
  -820
  -952
  -1,088
  -1,227
  -1,367
  -1,507
  -1,645
  -1,781
  -1,914
  -2,043
  -2,170
  -2,294
  -2,415
  -2,535
  -2,654
  -2,772
  -2,890
  -3,010
  -3,132
  -3,256
  -3,384
Cash from investing activities, $m
  -42
  -93
  -137
  -197
  -272
  -366
  -481
  -616
  -773
  -952
  -1,152
  -1,371
  -1,608
  -1,863
  -2,133
  -2,419
  -2,717
  -3,028
  -3,350
  -3,683
  -4,027
  -4,382
  -4,747
  -5,124
  -5,513
  -5,913
  -6,326
  -6,753
  -7,196
  -7,653
  -8,127
Free cash flow, $m
  15
  -75
  -102
  -137
  -177
  -221
  -269
  -316
  -361
  -399
  -427
  -443
  -441
  -421
  -378
  -313
  -222
  -106
  35
  202
  394
  610
  849
  1,110
  1,391
  1,693
  2,014
  2,353
  2,709
  3,082
  3,472
Issuance/(repayment) of debt, $m
  -26
  52
  76
  107
  145
  192
  247
  310
  380
  457
  540
  627
  717
  808
  901
  993
  1,084
  1,173
  1,261
  1,346
  1,430
  1,511
  1,591
  1,670
  1,748
  1,826
  1,904
  1,983
  2,063
  2,145
  2,229
Issuance/(repurchase) of shares, $m
  28
  81
  112
  150
  195
  245
  299
  354
  408
  455
  494
  520
  530
  521
  490
  435
  356
  251
  120
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  5
  133
  188
  257
  340
  437
  546
  664
  788
  912
  1,034
  1,147
  1,247
  1,329
  1,391
  1,428
  1,440
  1,424
  1,381
  1,346
  1,430
  1,511
  1,591
  1,670
  1,748
  1,826
  1,904
  1,983
  2,063
  2,145
  2,229
Total cash flow (excl. dividends), $m
  22
  58
  85
  120
  163
  215
  277
  348
  427
  514
  607
  704
  805
  908
  1,012
  1,115
  1,217
  1,318
  1,416
  1,548
  1,824
  2,121
  2,440
  2,780
  3,140
  3,519
  3,918
  4,336
  4,772
  5,228
  5,701
Retained Cash Flow (-), $m
  -62
  -111
  -161
  -226
  -308
  -407
  -524
  -658
  -808
  -972
  -1,148
  -1,332
  -1,523
  -1,718
  -1,914
  -2,109
  -2,303
  -2,493
  -2,679
  -2,860
  -3,038
  -3,211
  -3,381
  -3,549
  -3,715
  -3,880
  -4,046
  -4,213
  -4,384
  -4,558
  -4,738
Prev. year cash balance distribution, $m
 
  42
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -10
  -76
  -107
  -145
  -192
  -247
  -310
  -381
  -458
  -541
  -628
  -718
  -810
  -902
  -994
  -1,085
  -1,175
  -1,262
  -1,312
  -1,214
  -1,090
  -942
  -769
  -575
  -361
  -128
  122
  388
  669
  964
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  -10
  -70
  -93
  -120
  -149
  -179
  -210
  -238
  -263
  -284
  -298
  -306
  -308
  -303
  -292
  -276
  -256
  -232
  -202
  -154
  -113
  -78
  -50
  -29
  -14
  -4
  3
  6
  7
  7
Current shareholders' claim on cash, %
  100
  89.0
  80.4
  73.5
  68.0
  63.6
  60.0
  57.0
  54.5
  52.5
  50.9
  49.6
  48.5
  47.7
  47.0
  46.5
  46.2
  46.0
  45.9
  45.9
  45.9
  45.9
  45.9
  45.9
  45.9
  45.9
  45.9
  45.9
  45.9
  45.9
  45.9

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. To Internet-based data center operators, it supplies optical transceivers that plug into switches and servers within the data center and allow these network devices to send and receive data over fiber optic cables. The Company supplies a range of products, including lasers, transmitters and transceivers, and turnkey equipment, to the CATV market. The Company designs, manufactures and integrates its own analog and digital lasers using a combination of Metal Organic Chemical Vapor Deposition (MOCVD) and its Molecular Beam Epitaxy (MBE) fabrication process.

FINANCIAL RATIOS  of  Applied Optoelectronics (AAOI)

Valuation Ratios
P/E Ratio 24.6
Price to Sales 2.9
Price to Book 3.4
Price to Tangible Book
Price to Cash Flow 13.4
Price to Free Cash Flow 109
Growth Rates
Sales Growth Rate 37.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -13.8%
Cap. Spend. - 3 Yr. Gr. Rate 38%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 15.4%
Total Debt to Equity 18.9%
Interest Coverage 12
Management Effectiveness
Return On Assets 11.4%
Ret/ On Assets - 3 Yr. Avg. 6.5%
Return On Total Capital 12.3%
Ret/ On T. Cap. - 3 Yr. Avg. 7.2%
Return On Equity 15.8%
Return On Equity - 3 Yr. Avg. 9.4%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 33.3%
Gross Margin - 3 Yr. Avg. 32.9%
EBITDA Margin 14.2%
EBITDA Margin - 3 Yr. Avg. 11%
Operating Margin 8.8%
Oper. Margin - 3 Yr. Avg. 6.7%
Pre-Tax Margin 8%
Pre-Tax Margin - 3 Yr. Avg. 5.6%
Net Profit Margin 11.9%
Net Profit Margin - 3 Yr. Avg. 6.9%
Effective Tax Rate -47.6%
Eff/ Tax Rate - 3 Yr. Avg. -15.9%
Payout Ratio 0%

AAOI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AAOI stock intrinsic value calculation we used $261 million for the last fiscal year's total revenue generated by Applied Optoelectronics. The default revenue input number comes from 2016 income statement of Applied Optoelectronics. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AAOI stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for AAOI is calculated based on our internal credit rating of Applied Optoelectronics, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Applied Optoelectronics.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AAOI stock the variable cost ratio is equal to 87.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $10 million in the base year in the intrinsic value calculation for AAOI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.6% for Applied Optoelectronics.

Corporate tax rate of 27% is the nominal tax rate for Applied Optoelectronics. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AAOI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AAOI are equal to 50.6%.

Life of production assets of 9.4 years is the average useful life of capital assets used in Applied Optoelectronics operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AAOI is equal to 21.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $227 million for Applied Optoelectronics - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 19.303 million for Applied Optoelectronics is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Applied Optoelectronics at the current share price and the inputted number of shares is $0.8 billion.

RELATED COMPANIES Price Int.Val. Rating
EMKR Emcore 8.45 167.61  str.buy
OCLR Oclaro 8.41 163.28  str.buy
FNSR Finisar 23.03 29.19  buy
LITE Lumentum Holdi 55.95 18.15  str.sell
NPTN NeoPhotonics 5.46 1.65  str.sell
VIAV Viavi Solution 9.43 1.09  str.sell
MTSI MACOM Technolo 36.86 26.88  sell
CSCO Cisco Systems 34.25 47.77  buy
ACIA Acacia Communi 44.93 851.35  str.buy

COMPANY NEWS

▶ Company News For Oct 16, 2017   [10:11AM  Zacks]
▶ Applied Opto CFO: Other Vendors May Be Hurt Too   [Oct-12-17 05:56PM  Barrons.com]
Financial statements of AAOI
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.