Applied Optoelectronics (NASDAQ:AAOI) Given New $30.00 Price Target at Rosenblatt Securities

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) had its price objective lowered by research analysts at Rosenblatt Securities from $36.00 to $30.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Rosenblatt Securities' price objective suggests a potential upside of 138.85% from the stock's current price.

A number of other brokerages have also recently issued reports on AAOI. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research note on Wednesday, February 26th. Raymond James reduced their target price on Applied Optoelectronics from $31.00 to $20.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, B. Riley upgraded Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price target for the company in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $22.40.

Applied Optoelectronics Stock Down 1.8 %

Shares of AAOI stock traded down $0.23 during midday trading on Tuesday, reaching $12.56. 1,856,088 shares of the stock were exchanged, compared to its average volume of 3,149,300. Applied Optoelectronics has a 1 year low of $6.70 and a 1 year high of $44.50. The firm has a market cap of $695.11 million, a PE ratio of -6.10 and a beta of 2.57. The company's 50 day moving average is $16.82 and its two-hundred day moving average is $24.86. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

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

Insider Buying and Selling

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.06, for a total value of $46,120.00. Following 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 trade represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors have recently made changes to their positions in the business. Corebridge Financial Inc. increased its holdings in Applied Optoelectronics by 2.4% during the fourth quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company's stock valued at $747,000 after buying an additional 471 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Applied Optoelectronics by 5.7% in the 4th quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company's stock worth $415,000 after purchasing an additional 603 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Applied Optoelectronics by 17.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company's stock worth $157,000 after purchasing an additional 637 shares during the period. Virtu Financial LLC lifted 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 valued at $941,000 after purchasing an additional 895 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Applied Optoelectronics during the fourth quarter valued at $38,000. Institutional investors own 61.72% of the company's stock.

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.