Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up to $13.28

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $13.28, but opened at $14.09. Applied Optoelectronics shares last traded at $14.02, with a volume of 196,871 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AAOI shares. Raymond James raised 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. Rosenblatt Securities boosted their price target on shares of Applied Optoelectronics from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 12th. B. Riley cut their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, August 9th. Finally, B. Riley Financial reaffirmed a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. One investment 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. According to MarketBeat.com, Applied Optoelectronics presently has an average rating of “Hold” and a consensus target price of $13.75.

Applied Optoelectronics Trading Up 5.0 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The company has a market capitalization of $542.38 million, a price-to-earnings ratio of -7.64 and a beta of 1.96. The business has a fifty day moving average price of $10.01 and a 200 day moving average price of $10.95.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share 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 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) EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts expect that Applied Optoelectronics, Inc. will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Applied Optoelectronics

Several large investors have recently added to or reduced their stakes in AAOI. CANADA LIFE ASSURANCE Co acquired a new position in shares of Applied Optoelectronics in the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics in the second quarter valued at about $89,000. Truvestments Capital LLC bought a new stake in Applied Optoelectronics during the first quarter worth about $161,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter worth approximately $109,000. 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.