Applied Optoelectronics (NASDAQ:AAOI) Price Target Raised to $34.00 at Rosenblatt Securities

Applied Optoelectronics (NASDAQ:AAOI - Free Report) had its price objective increased by Rosenblatt Securities from $30.00 to $34.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

A number of other brokerages have also commented on AAOI. Northland Securities boosted their price target on shares of Applied Optoelectronics to $50.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Wall Street Zen upgraded shares of Applied Optoelectronics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Raymond James Financial cut their price objective on shares of Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, B. Riley raised shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price objective on the stock in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.80.

Applied Optoelectronics Stock Down 5.6%

AAOI stock traded down $1.55 during midday trading on Thursday, reaching $26.22. 8,121,893 shares of the company's stock traded hands, compared to its average volume of 3,619,833. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -6.79 and a beta of 2.64. The firm's fifty day moving average price is $17.16 and its 200-day moving average price is $22.11. The company has a quick ratio of 1.34, a current ratio of 1.88 and a debt-to-equity ratio of 0.47. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $44.50.

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

Insiders Place Their Bets

In related news, CFO Stefan J. Murry sold 2,000 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.05, for a total value of $32,100.00. Following the transaction, the chief financial officer now directly owns 321,036 shares of the company's stock, valued at approximately $5,152,627.80. The trade was a 0.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hung-Lun (Fred) Chang sold 23,837 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $19.06, for a total transaction of $454,333.22. Following the completion of the transaction, the insider now directly owns 278,842 shares in the company, valued at $5,314,728.52. This trade represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,263 shares of company stock valued at $726,570 in the last three months. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Applied Optoelectronics

A number of hedge funds and other institutional investors have recently made changes to their positions in AAOI. AlphaQuest LLC boosted 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 worth $35,000 after buying an additional 1,629 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Applied Optoelectronics in the 4th quarter worth about $38,000. Sterling Capital Management LLC boosted its holdings 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 worth $47,000 after buying an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Applied Optoelectronics during the fourth quarter valued at about $63,000. Finally, Quantbot Technologies LP purchased a new stake in Applied Optoelectronics during the first quarter valued at about $66,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.