Applied Optoelectronics (NASDAQ:AAOI) Price Target Raised to $34.00

by · The Markets Daily

Applied Optoelectronics (NASDAQ:AAOI – Free Report) had its price target hoisted by Rosenblatt Securities from $30.00 to $34.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other research analysts also recently commented on AAOI. Wall Street Zen raised Applied Optoelectronics from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Raymond James Financial cut their target price on Applied Optoelectronics from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Northland Securities increased their target price on Applied Optoelectronics to $50.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Finally, B. Riley upgraded Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.80.

Read Our Latest Stock Report on AAOI

Applied Optoelectronics Stock Down 5.6%

NASDAQ AAOI opened at $26.22 on Thursday. The stock’s 50-day moving average price is $17.16 and its 200-day moving average price is $22.18. The company has a quick ratio of 1.34, a current ratio of 1.88 and a debt-to-equity ratio of 0.47. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $44.50. The company has a market capitalization of $1.46 billion, a P/E ratio of -6.79 and a beta of 2.64.

Applied Optoelectronics (NASDAQ:AAOI – Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Applied Optoelectronics had a negative return on equity of 15.40% and a negative net margin of 55.98%. The firm had revenue of $99.86 million for the quarter, compared to the consensus estimate of $99.37 million. During the same quarter last year, the company earned ($0.31) earnings per share. The business’s revenue for the quarter was up 145.5% compared to the same quarter last year. On average, equities research analysts predict that Applied Optoelectronics will post -1.18 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Chih-Hsiang (Thompson) Lin purchased 21,200 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of $18.22 per share, for a total transaction of $386,264.00. Following the acquisition, the chief executive officer now directly owns 1,659,025 shares of the company’s stock, valued at $30,227,435.50. This represents a 1.29% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stefan J. Murry sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $16.05, for a total value of $32,100.00. Following the transaction, the chief financial officer now owns 321,036 shares of the company’s stock, valued at $5,152,627.80. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,263 shares of company stock worth $726,570. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors have recently added to or reduced their stakes in AAOI. Rhumbline Advisers boosted its holdings in shares of Applied Optoelectronics by 9.1% in the 4th quarter. Rhumbline Advisers now owns 60,348 shares of the semiconductor company’s stock worth $2,224,000 after purchasing an additional 5,035 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Applied Optoelectronics by 131.5% in the 4th quarter. New York State Common Retirement Fund now owns 12,500 shares of the semiconductor company’s stock worth $461,000 after purchasing an additional 7,100 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Applied Optoelectronics by 25.6% in the 4th quarter. Bank of New York Mellon Corp now owns 125,131 shares of the semiconductor company’s stock worth $4,612,000 after purchasing an additional 25,482 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Applied Optoelectronics by 8.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 118,249 shares of the semiconductor company’s stock worth $4,359,000 after purchasing an additional 9,435 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Applied Optoelectronics by 5.7% in the 4th quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company’s stock worth $415,000 after purchasing an additional 603 shares during the period. 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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