Applied Optoelectronics (NASDAQ:AAOI) Upgraded to Outperform by Raymond James

Raymond James upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) from a market perform rating to an outperform rating in a report released on Tuesday morning, MarketBeat.com reports. They currently have $17.00 price objective on the semiconductor company’s stock.

A number of other brokerages also recently weighed in on AAOI. Rosenblatt Securities reiterated a buy rating and issued a $15.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 22nd. StockNews.com upgraded Applied Optoelectronics to a sell rating in a research report on Friday, August 9th. B. Riley dropped their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a neutral rating on the stock in a report on Wednesday, August 7th. Finally, B. Riley Financial reaffirmed a neutral rating and set a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Applied Optoelectronics currently has a consensus rating of Hold and an average target price of $12.50.

Applied Optoelectronics Stock Up 8.0 %

Applied Optoelectronics stock opened at $12.26 on Tuesday. The business’s 50-day moving average price is $8.94 and its 200 day moving average price is $11.21. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. The firm has a market cap of $477.01 million, a price-to-earnings ratio of -6.74 and a beta of 1.97. Applied Optoelectronics has a 52 week low of $6.66 and a 52 week high of $24.75.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, topping 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 business had revenue of $43.27 million for the quarter, compared to analysts’ expectations of $44.14 million. During the same quarter last year, the company earned ($0.31) EPS. The business’s revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Applied Optoelectronics will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On Applied Optoelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in AAOI. CANADA LIFE ASSURANCE Co purchased a new position in shares of Applied Optoelectronics in the first quarter worth about $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $89,000. Summit Securities Group LLC acquired a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $109,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Applied Optoelectronics during the second quarter worth $118,000. Hedge funds and other institutional investors 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.