Applied Optoelectronics, Inc. (NASDAQ:AAOI) Receives $22.40 Consensus Price Target from Brokerages

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.40.

Several research analysts recently commented on the company. B. Riley upgraded Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price target on the stock in a research note on Friday, March 7th. Rosenblatt Securities reduced their target price on Applied Optoelectronics from $36.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a research report on Wednesday, February 26th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Applied Optoelectronics in a report on Thursday, April 24th.

Applied Optoelectronics Stock Down 2.9 %

Shares of NASDAQ AAOI traded down $0.37 on Friday, hitting $12.45. The company had a trading volume of 1,128,563 shares, compared to its average volume of 3,140,004. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. Applied Optoelectronics has a 12-month low of $6.70 and a 12-month high of $44.50. The firm has a market capitalization of $689.02 million, a P/E ratio of -6.04 and a beta of 2.57. The business has a 50 day moving average of $16.24 and a two-hundred day moving average of $24.80.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The firm had revenue of $100.27 million for the quarter, compared to analysts' expectations of $99.92 million. Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. As a group, equities research analysts forecast that Applied Optoelectronics will post -1.18 earnings per share for the current fiscal year.

Insider Transactions at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 2,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.06, for a total transaction of $46,120.00. Following the completion of the transaction, the chief financial officer now directly owns 196,581 shares of the company's stock, valued at approximately $4,533,157.86. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.96% of the company's stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds have recently made changes to their positions in AAOI. Nomura Holdings Inc. bought a new stake in Applied Optoelectronics during the fourth quarter worth approximately $31,331,000. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Applied Optoelectronics in the fourth quarter valued at $27,645,000. Jefferies Financial Group Inc. acquired a new position in Applied Optoelectronics during the fourth quarter worth about $23,354,000. Assenagon Asset Management S.A. lifted its holdings in Applied Optoelectronics by 182.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 976,520 shares of the semiconductor company's stock valued at $14,990,000 after acquiring an additional 631,128 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Applied Optoelectronics during the fourth quarter valued at approximately $13,379,000. Institutional investors own 61.72% of the company's stock.

About Applied Optoelectronics

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.