Applied Optoelectronics (NASDAQ:AAOI) Stock Price Expected to Rise, Raymond James Analyst Says

Applied Optoelectronics (NASDAQ:AAOI) had its target price increased by Raymond James from $17.00 to $23.00 in a research note published on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on the company. B. Riley reduced their price target on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price target on shares of Applied Optoelectronics in a research note on Wednesday, October 9th. B. Riley Financial reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Finally, StockNews.com raised Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Applied Optoelectronics currently has a consensus rating of “Hold” and a consensus target price of $18.70.

Applied Optoelectronics Trading Up 55.1 %

Shares of NASDAQ:AAOI traded up $9.86 on Friday, reaching $27.76. 19,430,463 shares of the company traded hands, compared to its average volume of 2,555,824. The business’s 50-day simple moving average is $15.59 and its 200 day simple moving average is $11.79. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $27.81. The stock has a market capitalization of $1.14 billion, a P/E ratio of -13.48 and a beta of 1.96. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

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

Insider Activity

In other news, insider David C. Kuo sold 10,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the transaction, the insider now directly owns 132,921 shares of the company’s stock, valued at $1,996,473.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

A number of institutional investors have recently bought and sold shares of AAOI. CANADA LIFE ASSURANCE Co purchased a new position in shares of Applied Optoelectronics during the first quarter valued at about $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $89,000. Truvestments Capital LLC bought a new position in shares of Applied Optoelectronics in the 1st quarter valued at about $161,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Applied Optoelectronics in the 3rd quarter valued at about $186,000. 61.72% of the stock is 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.