Applied Optoelectronics (NASDAQ:AAOI) Price Target Raised to $25.00 at Northland Securities

Applied Optoelectronics (NASDAQ:AAOI) had its price objective hoisted by equities research analysts at Northland Securities from $18.00 to $25.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ target price points to a potential downside of 7.17% from the company’s previous close.

Several other analysts also recently issued reports on the stock. B. Riley Financial reissued a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a research report on Thursday, August 8th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Raymond James raised their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday. B. Riley decreased 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Applied Optoelectronics in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.20.

Applied Optoelectronics Stock Up 50.4 %

AAOI traded up $9.03 during midday trading on Friday, hitting $26.93. The company had a trading volume of 15,318,216 shares, compared to its average volume of 2,536,995. The stock’s 50 day moving average price is $15.27 and its 200 day moving average price is $11.67. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $27.81. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -13.32 and a beta of 1.96. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $43.27 million for the quarter, compared to the consensus estimate of $44.14 million. During the same period in the prior year, the business earned ($0.31) EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts anticipate that Applied Optoelectronics will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Applied Optoelectronics

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in shares of Applied Optoelectronics by 245.7% in the first quarter. BNP Paribas Financial Markets now owns 49,661 shares of the semiconductor company’s stock worth $688,000 after purchasing an additional 35,295 shares during the last quarter. Swiss National Bank bought a new position in shares of Applied Optoelectronics during the first quarter valued at approximately $1,123,000. Vanguard Group Inc. lifted its stake 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 during the period. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics in the first quarter valued at $46,000. Finally, Truvestments Capital LLC purchased a new position in Applied Optoelectronics during the 1st quarter valued at $161,000. 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.