Applied Optoelectronics (NASDAQ:AAOI) Price Target Raised to $31.00

Applied Optoelectronics (NASDAQ:AAOI) had its target price increased by stock analysts at Raymond James to $31.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Raymond James’ target price indicates a potential upside of 40.41% from the stock’s previous close.

Several other research firms have also recently issued reports on AAOI. B. Riley cut shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a research note on Tuesday, December 10th. Rosenblatt Securities reissued a “buy” rating and issued a $44.00 price target on shares of Applied Optoelectronics in a report on Monday. Northland Securities reaffirmed an “outperform” rating and set a $40.00 target price (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Finally, StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.60.

Applied Optoelectronics Stock Performance

NASDAQ AAOI traded down $1.96 on Friday, hitting $22.08. 1,724,293 shares of the company’s stock traded hands, compared to its average volume of 3,490,686. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. Applied Optoelectronics has a 1-year low of $6.70 and a 1-year high of $44.50. The firm’s 50-day moving average price is $30.65 and its two-hundred day moving average price is $23.92. The firm has a market capitalization of $1.03 billion, a PE ratio of -10.79 and a beta of 2.36.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. The business had revenue of $100.27 million for the quarter, compared to analyst estimates of $99.92 million. As a group, analysts expect that Applied Optoelectronics will post -1.18 EPS for the current year.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, Director William H. Yeh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total value of $430,800.00. Following the transaction, the director now owns 223,538 shares of the company’s stock, valued at $9,630,017.04. This represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stefan J. Murry sold 2,298 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total transaction of $80,820.66. Following the completion of the transaction, the chief financial officer now directly owns 209,831 shares in the company, valued at $7,379,756.27. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,298 shares of company stock valued at $1,281,201 over the last 90 days. 5.40% of the stock is owned by insiders.

Institutional Trading of Applied Optoelectronics

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Applied Optoelectronics by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 2,429,418 shares of the semiconductor company’s stock worth $89,548,000 after purchasing an additional 241,594 shares in the last quarter. Royce & Associates LP increased its stake in shares of Applied Optoelectronics by 47.7% during the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock worth $22,847,000 after buying an additional 515,489 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Applied Optoelectronics during the third quarter worth approximately $19,019,000. Whale Rock Capital Management LLC purchased a new stake in shares of Applied Optoelectronics during the third quarter worth approximately $16,145,000. Finally, Geode Capital Management LLC increased its stake in shares of Applied Optoelectronics by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 979,769 shares of the semiconductor company’s stock worth $36,123,000 after buying an additional 70,210 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.