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Applied Optoelectronics, Inc. (NASDAQ:AAOI) Given Average Recommendation of "Moderate Buy" by Brokerages

Applied Optoelectronics logo with Computer and Technology background

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) has been given an average rating of "Moderate Buy" by the six brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $24.80.

Several equities research analysts have recently issued reports on the company. Rosenblatt Securities lifted their target price on Applied Optoelectronics from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Wall Street Zen raised Applied Optoelectronics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Raymond James Financial reduced their target price on Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Northland Securities increased their price objective on shares of Applied Optoelectronics to $50.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, Wolfe Research started coverage on shares of Applied Optoelectronics in a research report on Tuesday. They set a "peer perform" rating for the company.

View Our Latest Stock Report on AAOI

Applied Optoelectronics Stock Performance

Applied Optoelectronics stock traded up $0.33 during midday trading on Thursday, reaching $28.25. 3,409,615 shares of the company traded hands, compared to its average volume of 3,704,886. Applied Optoelectronics has a 12 month low of $6.70 and a 12 month high of $44.50. The business has a 50 day moving average of $19.56 and a two-hundred day moving average of $21.86. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -7.32 and a beta of 2.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.88 and a quick ratio of 1.34.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. Applied Optoelectronics had a negative net margin of 55.98% and a negative return on equity of 15.40%. The business had revenue of $99.86 million during the quarter, compared to analyst estimates of $99.37 million. During the same period in the prior year, the business posted ($0.31) earnings per share. The company's revenue was up 145.5% on a year-over-year basis. As a group, research analysts predict that Applied Optoelectronics will post -1.18 earnings per share for the current year.

Insider Activity

In other news, insider David C. Kuo sold 11,426 shares of Applied Optoelectronics stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 $2,939,490. The trade was a 6.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hung-Lun (Fred) Chang sold 23,837 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $19.06, for a total value of $454,333.22. Following the completion of the transaction, the insider owned 278,842 shares of the company's stock, valued at approximately $5,314,728.52. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,263 shares of company stock worth $726,570 over the last 90 days. Insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Applied Optoelectronics

Large investors have recently made changes to their positions in the company. Corebridge Financial Inc. raised its position in Applied Optoelectronics by 2.4% during the fourth quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company's stock worth $747,000 after acquiring an additional 471 shares during the period. Arizona State Retirement System raised its position in Applied Optoelectronics by 5.7% during the fourth quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company's stock worth $415,000 after acquiring an additional 603 shares during the period. Summit Investment Advisors Inc. raised its position in Applied Optoelectronics by 17.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company's stock worth $157,000 after acquiring an additional 637 shares during the period. Rhumbline Advisers raised its position in Applied Optoelectronics by 1.1% during the first quarter. Rhumbline Advisers now owns 61,017 shares of the semiconductor company's stock worth $937,000 after acquiring an additional 669 shares during the period. Finally, Virtu Financial LLC raised its position in Applied Optoelectronics by 3.6% during the fourth quarter. Virtu Financial LLC now owns 25,529 shares of the semiconductor company's stock worth $941,000 after acquiring an additional 895 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

About Applied Optoelectronics

(Get Free Report

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.

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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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