Applied Optoelectronics (NASDAQ:AAOI) Upgraded by Wall Street Zen to "Hold" Rating

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also weighed in on AAOI. Rosenblatt Securities upped their price target on shares of Applied Optoelectronics to $30.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. B. Riley raised shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 target price for the company in a report on Friday, March 7th. Northland Securities raised their price target on Applied Optoelectronics to $50.00 and gave the company a "buy" rating in a report on Friday, June 13th. Finally, Raymond James Financial lowered 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.00.

Applied Optoelectronics Stock Performance

NASDAQ AAOI traded up $3.68 on Friday, hitting $23.45. 13,912,201 shares of the company traded hands, compared to its average volume of 3,538,009. The business's 50 day moving average price is $15.73 and its 200-day moving average price is $22.53. Applied Optoelectronics has a 52-week low of $6.70 and a 52-week high of $44.50. The company has a current ratio of 1.88, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -6.08 and a beta of 2.64.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $99.86 million for the quarter, compared to the consensus estimate of $99.37 million. Applied Optoelectronics had a negative return on equity of 15.40% and a negative net margin of 55.98%. The business's revenue for the quarter was up 145.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.31) earnings per share. Equities analysts expect that Applied Optoelectronics will post -1.18 earnings per share for the current year.

Insider Buying and Selling at Applied Optoelectronics

In other news, insider Hung-Lun (Fred) Chang sold 23,837 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $19.06, for a total transaction of $454,333.22. Following the sale, the insider now directly owns 278,842 shares of the company's stock, valued at $5,314,728.52. This represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chih-Hsiang (Thompson) Lin purchased 21,200 shares of Applied Optoelectronics stock in a transaction that occurred on Tuesday, May 13th. The stock was acquired at an average price of $18.22 per share, for a total transaction of $386,264.00. Following the transaction, the chief executive officer now directly owns 1,659,025 shares of the company's stock, valued at $30,227,435.50. The trade was a 1.29% increase in their position. The disclosure for this purchase can be found here. Insiders sold 39,263 shares of company stock valued at $726,570 in the last 90 days. Insiders own 4.50% of the company's stock.

Institutional Trading of Applied Optoelectronics

Large investors have recently made changes to their positions in the business. AlphaQuest LLC lifted 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 valued at $35,000 after acquiring an additional 1,629 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Applied Optoelectronics during the fourth quarter valued at approximately $38,000. Sterling Capital Management LLC lifted its stake 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 valued at $47,000 after purchasing an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Applied Optoelectronics in the 4th quarter valued at approximately $63,000. Finally, Quantbot Technologies LP purchased a new position in shares of Applied Optoelectronics in the 1st quarter worth approximately $66,000. 61.72% of the stock is currently owned by institutional investors.

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.