Applied Optoelectronics (NASDAQ:AAOI) had its target price increased by Piper Jaffray Companies from $9.50 to $10.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Piper Jaffray Companies’ target price suggests a potential downside of 8.09% from the company’s current price.
A number of other analysts have also recently issued reports on AAOI. JPMorgan Chase & Co. cut Applied Optoelectronics from a “neutral” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a research report on Tuesday, October 22nd. They noted that the move was a valuation call. Northland Securities restated a “sell” rating and set a $6.50 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Zacks Investment Research cut Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Rosenblatt Securities upgraded Applied Optoelectronics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $13.00 in a research report on Tuesday. Finally, ValuEngine upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.69.
Shares of AAOI stock traded up $0.19 during trading hours on Thursday, reaching $10.88. 986,700 shares of the company’s stock were exchanged, compared to its average volume of 718,547. Applied Optoelectronics has a fifty-two week low of $8.34 and a fifty-two week high of $23.38. The stock has a market capitalization of $227.30 million, a P/E ratio of 20.53 and a beta of 2.05. The business has a fifty day moving average price of $10.55 and a 200-day moving average price of $10.12. The company has a quick ratio of 1.75, a current ratio of 2.95 and a debt-to-equity ratio of 0.37.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.09. Applied Optoelectronics had a negative return on equity of 6.14% and a negative net margin of 16.22%. The company had revenue of $46.08 million during the quarter, compared to analyst estimates of $47.75 million. During the same period in the previous year, the company earned $0.14 earnings per share. The company’s quarterly revenue was down 18.3% compared to the same quarter last year. As a group, research analysts expect that Applied Optoelectronics will post -1.46 EPS for the current fiscal year.
In other news, CFO Stefan J. Murry sold 6,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $10.41, for a total transaction of $62,460.00. Following the sale, the chief financial officer now owns 65,443 shares in the company, valued at $681,261.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Applied Optoelectronics by 2.8% during the second quarter. BlackRock Inc. now owns 2,950,555 shares of the semiconductor company’s stock worth $30,331,000 after purchasing an additional 79,610 shares during the last quarter. Morgan Stanley lifted its stake in shares of Applied Optoelectronics by 44.8% during the second quarter. Morgan Stanley now owns 1,206,771 shares of the semiconductor company’s stock valued at $12,406,000 after acquiring an additional 373,423 shares during the period. Vanguard Group Inc. lifted its stake in shares of Applied Optoelectronics by 0.8% during the second quarter. Vanguard Group Inc. now owns 1,180,863 shares of the semiconductor company’s stock valued at $12,138,000 after acquiring an additional 8,917 shares during the period. Investment Counselors of Maryland LLC lifted its stake in shares of Applied Optoelectronics by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 473,058 shares of the semiconductor company’s stock valued at $4,863,000 after acquiring an additional 5,164 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $3,084,000. Institutional investors own 64.37% of the company’s stock.
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.
Further Reading: How dollar cost averaging works
Receive News & Ratings for Applied Optoelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics and related companies with MarketBeat.com's FREE daily email newsletter.