Rosenblatt Securities Forecasts Strong Price Appreciation for Applied Optoelectronics (NASDAQ:AAOI) Stock

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) had its price target boosted by investment analysts at Rosenblatt Securities from $30.00 to $34.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Rosenblatt Securities' price target would indicate a potential upside of 31.89% from the company's previous close.

Several other equities analysts have also recently weighed in on the company. B. Riley raised Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 target price on the stock in a research report on Friday, March 7th. Northland Securities upped their price target on shares of Applied Optoelectronics to $50.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Raymond James Financial cut their target price on shares of Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Wall Street Zen raised Applied Optoelectronics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Applied Optoelectronics has an average rating of "Moderate Buy" and an average price target of $24.80.

Applied Optoelectronics Stock Down 1.7%

Applied Optoelectronics stock opened at $25.78 on Thursday. Applied Optoelectronics has a twelve month low of $6.70 and a twelve month high of $44.50. The company has a quick ratio of 1.34, a current ratio of 1.88 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $16.51 and a 200-day moving average of $22.37. The stock has a market capitalization of $1.43 billion, a PE ratio of -6.79 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) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. Applied Optoelectronics had a negative return on equity of 15.40% and a negative net margin of 55.98%. The business had revenue of $99.86 million during the quarter, compared to the consensus estimate of $99.37 million. During the same period last year, the company earned ($0.31) earnings per share. Applied Optoelectronics's quarterly revenue was up 145.5% on a year-over-year basis. On average, equities research analysts anticipate that Applied Optoelectronics will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling at Applied Optoelectronics

In related news, CFO Stefan J. Murry sold 2,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $16.05, for a total value of $32,100.00. Following the sale, the chief financial officer now directly owns 321,036 shares of the company's stock, valued at $5,152,627.80. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chih-Hsiang (Thompson) Lin bought 21,200 shares of the stock in a transaction on Tuesday, May 13th. The shares were acquired at an average cost of $18.22 per share, with a total value of $386,264.00. Following the purchase, the chief executive officer now owns 1,659,025 shares of the company's stock, valued at approximately $30,227,435.50. This represents 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 three months. Corporate insiders own 4.50% 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 the stock. AlphaQuest LLC boosted its position in Applied Optoelectronics by 243.9% in the first quarter. AlphaQuest LLC now owns 2,297 shares of the semiconductor company's stock valued at $35,000 after buying an additional 1,629 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Applied Optoelectronics in the 4th quarter valued at $38,000. Sterling Capital Management LLC grew its position in Applied Optoelectronics by 858.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Applied Optoelectronics in the 4th quarter worth about $63,000. Finally, Quantbot Technologies LP acquired a new position in shares of Applied Optoelectronics during the first quarter worth $66,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.