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 Friday.

AAOI has been the subject of a number of other reports. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Applied Optoelectronics in a research report on Wednesday, October 9th. B. Riley lowered their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. B. Riley Financial restated a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a report on Thursday, August 8th. Finally, Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price target for the company in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.75.

Applied Optoelectronics Stock Performance

Shares of NASDAQ AAOI opened at $17.44 on Friday. The company has a market cap of $678.56 million, a P/E ratio of -9.58 and a beta of 1.96. Applied Optoelectronics has a 52-week low of $6.70 and a 52-week high of $24.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64. The firm’s fifty day moving average is $13.97 and its two-hundred day moving average is $11.37.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The firm had revenue of $43.27 million for the quarter, compared to analysts’ expectations of $44.14 million. During the same period in the previous year, the firm posted ($0.31) earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts anticipate that Applied Optoelectronics will post -1.08 EPS for the current fiscal year.

Insider Activity

In related news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total transaction of $150,200.00. Following the completion of the transaction, the insider now directly owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Large investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co purchased a new stake in Applied Optoelectronics in the first quarter worth $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 buying an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Applied Optoelectronics in the 2nd quarter valued at about $89,000. Summit Securities Group LLC bought a new position in Applied Optoelectronics in the 2nd quarter worth about $109,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Applied Optoelectronics during the second quarter worth approximately $118,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.