Applied Optoelectronics (NASDAQ:AAOI) Stock Price Expected to Rise, Raymond James Analyst Says

Applied Optoelectronics (NASDAQ:AAOI) had its price target upped by analysts at Raymond James from $17.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Raymond James’ target price would suggest a potential downside of 15.38% from the company’s previous close.

Other analysts also recently issued research reports about the company. B. Riley decreased their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Applied Optoelectronics in a research note on Wednesday, October 9th. B. Riley Financial reiterated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Applied Optoelectronics has a consensus rating of “Hold” and a consensus price target of $15.25.

Applied Optoelectronics Stock Performance

Applied Optoelectronics stock traded up $9.28 during trading hours on Friday, reaching $27.18. 14,179,181 shares of the company were exchanged, compared to its average volume of 2,527,799. Applied Optoelectronics has a 12 month low of $6.70 and a 12 month high of $27.39. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -13.19 and a beta of 1.96. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $15.27 and a 200 day moving average of $11.67.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. The business had revenue of $43.27 million for the quarter, compared to analyst estimates of $44.14 million. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. Applied Optoelectronics’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted ($0.31) EPS. As a group, research analysts anticipate that Applied Optoelectronics will post -1.08 earnings per share for the current year.

Insider Activity

In related news, insider David C. Kuo sold 10,000 shares of the firm’s 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 completion of the transaction, the insider now owns 132,921 shares in the company, valued at $1,996,473.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics during the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics during the 2nd quarter worth about $89,000. Emerald Mutual Fund Advisers Trust grew its holdings in Applied Optoelectronics by 2.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company’s stock worth $5,869,000 after acquiring an additional 11,037 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Applied Optoelectronics in the 1st quarter valued at about $161,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Applied Optoelectronics Company Profile

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.