Applied Optoelectronics’ (AAOI) Buy Rating Reiterated at Rosenblatt Securities

Applied Optoelectronics (NASDAQ:AAOI)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a research note issued on Wednesday, Benzinga reports. They presently have a $20.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ price objective points to a potential upside of 23.69% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Raymond James upgraded Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a research report on Tuesday, September 3rd. B. Riley Financial reissued a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Thursday, October 3rd. Finally, B. Riley lowered their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.75.

Applied Optoelectronics Stock Performance

Applied Optoelectronics stock traded down $0.28 during midday trading on Wednesday, hitting $16.17. The stock had a trading volume of 2,080,743 shares, compared to its average volume of 2,447,224. Applied Optoelectronics has a 52-week low of $6.66 and a 52-week high of $24.75. The company has a market capitalization of $629.14 million, a PE ratio of -8.88 and a beta of 1.96. The firm’s fifty day moving average is $11.42 and its two-hundred day moving average is $10.96. 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 (NASDAQ:AAOI) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. The firm had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.31) earnings per share. On average, research analysts forecast that Applied Optoelectronics will post -1.08 EPS for the current year.

Insider Activity at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total value of $150,200.00. Following the sale, the insider now owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.40% of the stock is owned by insiders.

Institutional Trading of Applied Optoelectronics

A number of hedge funds and other institutional investors have recently bought and sold shares of AAOI. CANADA LIFE ASSURANCE Co purchased a new position in shares of Applied Optoelectronics during the first quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $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 2nd quarter worth $89,000. Summit Securities Group LLC purchased a new stake in shares of Applied Optoelectronics in the 2nd quarter worth $109,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Applied Optoelectronics during the 2nd 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.