Applied Optoelectronics (NASDAQ:AAOI) Coverage Initiated at Wolfe Research

Investment analysts at Wolfe Research started coverage on shares of Applied Optoelectronics (NASDAQ:AAOI) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “peer perform” rating on the semiconductor company’s stock.

A number of other brokerages have also commented on AAOI. Raymond James Financial dropped their price target on Applied Optoelectronics from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Wall Street Zen upgraded Applied Optoelectronics from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Northland Securities boosted their target price on Applied Optoelectronics to $50.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Finally, Rosenblatt Securities boosted their target price on Applied Optoelectronics from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.80.

Applied Optoelectronics Stock Up 3.9%

Shares of NASDAQ:AAOI opened at $27.92 on Tuesday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -7.23 and a beta of 2.78. 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 12-month low of $6.70 and a 12-month high of $44.50. The business’s 50 day moving average is $19.56 and its 200 day moving average is $21.86.

Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $99.86 million for the quarter, compared to analysts’ expectations of $99.37 million. Applied Optoelectronics had a negative return on equity of 15.40% and a negative net margin of 55.98%. Applied Optoelectronics’s quarterly revenue was up 145.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.31) earnings per share. On average, sell-side analysts forecast that Applied Optoelectronics will post -1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Hung-Lun (Fred) Chang sold 23,837 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $19.06, for a total transaction of $454,333.22. Following the completion of the transaction, the insider directly owned 278,842 shares in the company, valued at $5,314,728.52. The trade was a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David C. Kuo sold 11,426 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.10, for a total value of $218,236.60. Following the transaction, the insider owned 153,900 shares of the company’s stock, valued at approximately $2,939,490. The trade was a 6.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,263 shares of company stock valued at $726,570 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds and other institutional investors have recently modified their holdings of the company. AlphaQuest LLC boosted its holdings in shares of Applied Optoelectronics by 243.9% in the 1st quarter. AlphaQuest LLC now owns 2,297 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 1,629 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Applied Optoelectronics in the 4th quarter worth about $38,000. Sterling Capital Management LLC boosted its holdings in shares of Applied Optoelectronics by 858.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 1,150 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Applied Optoelectronics in the 4th quarter worth about $63,000. Finally, Quantbot Technologies LP purchased a new position in shares of Applied Optoelectronics in the 1st quarter worth about $66,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.