Applied Optoelectronics (NASDAQ:AAOI) Price Target Raised to $10.00

Applied Optoelectronics (NASDAQ:AAOI) had its target price raised by Piper Jaffray Companies from $9.50 to $10.00 in a report published on Thursday, Stock Target Advisor reports. The firm currently has a neutral rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Northland Securities reaffirmed a sell rating and set a $6.50 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. Zacks Investment Research cut Applied Optoelectronics from a buy rating to a hold rating in a report on Thursday, October 24th. JPMorgan Chase & Co. cut Applied Optoelectronics from a neutral rating to an underweight rating and set a $11.00 price target on the stock. in a report on Tuesday, October 22nd. They noted that the move was a valuation call. ValuEngine raised Applied Optoelectronics from a buy rating to a strong-buy rating in a report on Wednesday, September 4th. Finally, Rosenblatt Securities raised Applied Optoelectronics from a neutral rating to a buy rating and lifted their price target for the company from $10.00 to $13.00 in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $11.42.

NASDAQ AAOI traded up $0.19 during trading hours on Thursday, hitting $10.88. The company had a trading volume of 986,700 shares, compared to its average volume of 718,547. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.95 and a quick ratio of 1.75. The firm’s 50 day moving average is $10.54 and its 200 day moving average is $10.11. Applied Optoelectronics has a fifty-two week low of $8.34 and a fifty-two week high of $23.38. The company has a market capitalization of $227.30 million, a price-to-earnings ratio of 20.53 and a beta of 2.05.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.09. The company had revenue of $46.08 million for the quarter, compared to analysts’ expectations of $47.75 million. Applied Optoelectronics had a negative return on equity of 6.14% and a negative net margin of 16.22%. The business’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. On average, equities analysts anticipate that Applied Optoelectronics will post -1.46 EPS for the current year.

In related news, CFO Stefan J. Murry sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $10.41, for a total transaction of $62,460.00. Following the transaction, the chief financial officer now owns 65,443 shares in the company, valued at $681,261.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in shares of Applied Optoelectronics by 76.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,637 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 1,141 shares during the period. California Public Employees Retirement System increased its stake in shares of Applied Optoelectronics by 5.8% during the third quarter. California Public Employees Retirement System now owns 116,600 shares of the semiconductor company’s stock valued at $1,308,000 after acquiring an additional 6,400 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Applied Optoelectronics by 27.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 6,430 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 1,375 shares during the period. Rhumbline Advisers increased its stake in shares of Applied Optoelectronics by 5.1% during the third quarter. Rhumbline Advisers now owns 60,473 shares of the semiconductor company’s stock valued at $679,000 after acquiring an additional 2,950 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Applied Optoelectronics by 127.1% during the third quarter. State of Alaska Department of Revenue now owns 14,572 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 8,155 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.

About Applied Optoelectronics

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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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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