Applied Optoelectronics (NASDAQ:AAOI) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) to a sell rating in a report released on Thursday.

AAOI has been the subject of a number of other reports. B. Riley Financial reissued a neutral rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. Raymond James raised 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 research note on Tuesday, September 3rd. Rosenblatt Securities upped their target price on Applied Optoelectronics from $15.00 to $20.00 and gave the company a buy rating in a report on Thursday, September 12th. Finally, B. Riley reduced their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $13.75.

Applied Optoelectronics Stock Up 8.2 %

Shares of NASDAQ:AAOI opened at $15.36 on Thursday. The business has a 50 day simple moving average of $11.12 and a two-hundred day simple moving average of $10.95. The firm has a market capitalization of $597.63 million, a PE ratio of -8.44 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. Applied Optoelectronics has a 1 year low of $6.66 and a 1 year high of $24.75.

Applied Optoelectronics (NASDAQ:AAOI) last released 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 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 the consensus estimate of $44.14 million. During the same period last year, the firm earned ($0.31) earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that Applied Optoelectronics will post -1.08 EPS for the current year.

Insider Buying and Selling

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total value of $150,200.00. Following the transaction, the insider now owns 132,921 shares in the company, valued at $1,996,473.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AAOI. Vanguard Group Inc. grew its position in shares of Applied Optoelectronics by 29.2% in the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock valued at $27,089,000 after purchasing an additional 442,277 shares during the last quarter. Hood River Capital Management LLC lifted its position in Applied Optoelectronics by 6.5% during the 1st quarter. Hood River Capital Management LLC now owns 1,439,404 shares of the semiconductor company’s stock worth $19,950,000 after buying an additional 88,281 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Applied Optoelectronics by 30.0% in the first quarter. Whale Rock Capital Management LLC now owns 1,333,957 shares of the semiconductor company’s stock valued at $18,489,000 after purchasing an additional 308,172 shares in the last quarter. Shellback Capital LP acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $8,617,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Applied Optoelectronics by 9,687.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock worth $16,498,000 after buying an additional 845,223 shares during the last quarter. 61.72% of the stock is 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.