Applied Optoelectronics (NASDAQ:AAOI) Price Target Raised to $25.00 at Northland Securities

by · The Markets Daily

Applied Optoelectronics (NASDAQ:AAOI – Free Report) had its price target raised by Northland Securities from $18.00 to $25.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

AAOI has been the subject of several other reports. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Applied Optoelectronics in a research note on Wednesday, October 9th. B. Riley decreased their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Raymond James increased their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday. B. Riley Financial restated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a report on Thursday, August 8th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.70.

Read Our Latest Report on AAOI

Applied Optoelectronics Stock Up 55.1 %

AAOI traded up $9.86 during trading hours on Friday, reaching $27.76. 19,430,463 shares of the stock traded hands, compared to its average volume of 2,555,824. The firm’s fifty day simple moving average is $15.59 and its two-hundred day simple moving average is $11.79. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -13.48 and a beta of 1.96. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $27.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97.

Applied Optoelectronics (NASDAQ:AAOI – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The company had revenue of $43.27 million for the quarter, compared to the consensus estimate of $44.14 million. During the same period in the previous year, the firm earned ($0.31) EPS. Applied Optoelectronics’s revenue was up 4.0% on a year-over-year basis. As a group, analysts forecast that Applied Optoelectronics will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the sale, the insider now directly owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in Applied Optoelectronics by 245.7% in the first quarter. BNP Paribas Financial Markets now owns 49,661 shares of the semiconductor company’s stock worth $688,000 after buying an additional 35,295 shares during the last quarter. Swiss National Bank acquired a new stake in Applied Optoelectronics in the first quarter worth about $1,123,000. Vanguard Group Inc. boosted its holdings in Applied Optoelectronics by 29.2% in the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after acquiring an additional 442,277 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in Applied Optoelectronics in the first quarter worth about $46,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Applied Optoelectronics during the first quarter worth about $161,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About Applied Optoelectronics

(Get Free Report)

Applied Optoelectronics, Inc designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers.

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