Northland Securities upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) from an under perform rating to a market perform rating in a research report sent to investors on Monday, Analyst Ratings Network reports. Northland Securities currently has $10.00 price target on the semiconductor company’s stock.
Other research analysts have also recently issued reports about the stock. ValuEngine cut shares of Applied Optoelectronics from a buy rating to a hold rating in a report on Thursday, October 1st. DA Davidson increased their price target on shares of Applied Optoelectronics from $12.00 to $17.00 and gave the company a neutral rating in a research report on Friday, August 7th. Zacks Investment Research lowered shares of Applied Optoelectronics from a buy rating to a hold rating in a research report on Tuesday, October 6th. Rosenblatt Securities reiterated a hold rating and issued a $19.00 price target on shares of Applied Optoelectronics in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. restated an underweight rating on shares of Applied Optoelectronics in a research report on Monday, August 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $14.50.
Shares of Applied Optoelectronics stock opened at $9.36 on Monday. Applied Optoelectronics has a 12-month low of $5.00 and a 12-month high of $17.57. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.36. The stock has a market cap of $213.17 million, a PE ratio of -2.39 and a beta of 1.98. The company has a 50-day moving average of $10.76 and a two-hundred day moving average of $10.71.
Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, August 6th. The semiconductor company reported ($0.24) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.13. Applied Optoelectronics had a negative net margin of 39.72% and a negative return on equity of 11.97%. The company had revenue of $65.22 million during the quarter, compared to analysts’ expectations of $56.93 million. On average, sell-side analysts forecast that Applied Optoelectronics will post -1.26 EPS for the current fiscal year.
In other Applied Optoelectronics news, CEO Chih-Hsiang (Thompson) Lin sold 7,788 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $14.65, for a total transaction of $114,094.20. Following the completion of the transaction, the chief executive officer now directly owns 809,214 shares of the company’s stock, valued at approximately $11,854,985.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shu-Hua (Joshua) Yeh sold 2,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $15.00, for a total transaction of $30,000.00. Following the transaction, the insider now directly owns 147,841 shares of the company’s stock, valued at $2,217,615. The disclosure for this sale can be found here. Insiders have sold a total of 32,076 shares of company stock worth $436,515 in the last ninety days. 7.22% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in AAOI. SG Americas Securities LLC acquired a new position in Applied Optoelectronics during the 2nd quarter worth $118,000. Royal Bank of Canada boosted its holdings in shares of Applied Optoelectronics by 82.6% in the 1st quarter. Royal Bank of Canada now owns 17,651 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 7,982 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $163,000. Advisor Group Holdings Inc. acquired a new position in shares of Applied Optoelectronics in the 1st quarter valued at about $169,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Applied Optoelectronics by 27.9% in the 1st quarter. Squarepoint Ops LLC now owns 23,704 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 5,170 shares during the period. 51.97% of the stock is owned by 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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