Applied Optoelectronics (NASDAQ:AAOI) Given New $20.00 Price Target at Rosenblatt Securities

Applied Optoelectronics (NASDAQ:AAOI) had its price target hoisted by investment analysts at Rosenblatt Securities from $15.00 to $20.00 in a report released on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 36.89% from the stock’s current price.

AAOI has been the topic of a number of other reports. B. Riley Financial reiterated a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 8th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, August 9th. Raymond James upgraded shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, B. Riley reduced their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.75.

Applied Optoelectronics Price Performance

Shares of AAOI stock opened at $14.61 on Thursday. The company has a market capitalization of $597.55 million, a PE ratio of -8.03 and a beta of 1.96. The firm has a fifty day simple moving average of $9.73 and a 200-day simple moving average of $11.02. 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 has a twelve month low of $6.66 and a twelve month high of $24.75.

Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $44.14 million. During the same period in the prior year, the firm earned ($0.31) earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Applied Optoelectronics will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Nomura Holdings Inc. bought a new position in shares of Applied Optoelectronics in the 4th quarter worth about $1,501,000. Goldman Sachs Group Inc. grew its position in Applied Optoelectronics by 9,687.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock worth $16,498,000 after acquiring an additional 845,223 shares in the last quarter. Vanguard Group Inc. grew its position in Applied Optoelectronics by 29.2% in the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after acquiring an additional 442,277 shares in the last quarter. Swiss National Bank acquired a new stake in shares of Applied Optoelectronics in the first quarter worth $1,123,000. Finally, Kennedy Capital Management LLC lifted its stake in shares of Applied Optoelectronics by 88.6% in the first quarter. Kennedy Capital Management LLC now owns 463,213 shares of the semiconductor company’s stock worth $6,420,000 after buying an additional 217,624 shares during the last quarter. 61.72% of the stock is currently owned by institutional investors.

Applied Optoelectronics Company Profile

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.