Applied Optoelectronics (NASDAQ:AAOI) PT Raised to $20.00

Applied Optoelectronics (NASDAQ:AAOI) had its price objective raised by Rosenblatt Securities from $15.00 to $20.00 in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities analysts have also recently issued reports on AAOI. B. Riley cut their target price on Applied Optoelectronics from $12.00 to $9.00 and set a neutral rating on the stock in a report on Wednesday, August 7th. B. Riley Financial reissued a neutral rating and set a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Raymond James upgraded shares of Applied Optoelectronics from a market perform rating to an outperform rating and set a $17.00 target price on the stock in a report on Tuesday, September 3rd. Finally, StockNews.com raised Applied Optoelectronics to a sell rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $13.75.

Applied Optoelectronics Stock Performance

Shares of AAOI stock opened at $14.61 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. Applied Optoelectronics has a 52 week low of $6.66 and a 52 week high of $24.75. The firm has a 50 day moving average of $9.73 and a 200-day moving average of $10.96. The company has a market cap of $597.55 million, a price-to-earnings ratio of -8.03 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.01. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The firm had revenue of $43.27 million for the quarter, compared to analyst estimates of $44.14 million. During the same quarter in the prior year, the business earned ($0.31) earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Applied Optoelectronics will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors have recently modified their holdings of AAOI. CANADA LIFE ASSURANCE Co purchased a new position in Applied Optoelectronics in the first quarter worth $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after buying an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Applied Optoelectronics in the second quarter worth $89,000. Truvestments Capital LLC bought a new stake in shares of Applied Optoelectronics in the first quarter valued at $161,000. Finally, Summit Securities Group LLC bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth $109,000. 61.72% of the stock is owned by 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.