Applied Optoelectronics (NASDAQ:AAOI) Upgraded at StockNews.com

StockNews.com upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) to a sell rating in a research report report published on Saturday morning.

AAOI has been the subject of a number of other reports. TheStreet raised Applied Optoelectronics from a d rating to a c- rating in a report on Friday, February 23rd. B. Riley Financial decreased their price target on Applied Optoelectronics from $16.00 to $12.00 and set a neutral rating for the company in a report on Friday, May 10th. Rosenblatt Securities reduced their target price on Applied Optoelectronics from $20.00 to $16.00 and set a buy rating for the company in a research note on Friday, May 10th. Finally, B. Riley reduced their target price on Applied Optoelectronics from $16.00 to $12.00 and set a neutral rating for the company in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Optoelectronics has an average rating of Hold and a consensus target price of $15.00.

Applied Optoelectronics Trading Up 2.6 %

Shares of NASDAQ:AAOI opened at $9.10 on Friday. Applied Optoelectronics has a 12-month low of $3.59 and a 12-month high of $24.75. The company has a market capitalization of $354.08 million, a PE ratio of -5.00 and a beta of 2.02. The business has a 50 day moving average of $10.93 and a two-hundred day moving average of $15.01. The company has a current ratio of 1.79, a quick ratio of 1.06 and a debt-to-equity ratio of 0.39.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). Applied Optoelectronics had a negative net margin of 30.65% and a negative return on equity of 16.30%. The company had revenue of $40.67 million during the quarter, compared to analyst estimates of $43.56 million. As a group, analysts forecast that Applied Optoelectronics will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AAOI. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Applied Optoelectronics during the third quarter worth approximately $1,401,000. Trexquant Investment LP purchased a new stake in shares of Applied Optoelectronics during the third quarter worth approximately $1,559,000. B. Riley Asset Management LLC purchased a new stake in shares of Applied Optoelectronics during the third quarter worth approximately $1,089,000. Quadrature Capital Ltd purchased a new stake in shares of Applied Optoelectronics during the third quarter worth approximately $1,436,000. Finally, Citigroup Inc. increased its position in shares of Applied Optoelectronics by 0.6% during the third quarter. Citigroup Inc. now owns 318,270 shares of the semiconductor company’s stock worth $3,491,000 after purchasing an additional 1,872 shares in 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.