Applied Optoelectronics (NASDAQ:AAOI) Trading Up 4.4% – What’s Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) rose 4.4% on Wednesday . The stock traded as high as $18.21 and last traded at $18.17. Approximately 295,952 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 2,442,612 shares. The stock had previously closed at $17.40.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. B. Riley Financial reissued a “neutral” rating and issued a $9.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Applied Optoelectronics in a research report on Wednesday, October 9th. B. Riley lowered their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research note on Thursday, October 3rd. Finally, Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.75.

Applied Optoelectronics Price Performance

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 stock’s fifty day moving average is $12.36 and its 200-day moving average is $11.08. The stock has a market cap of $732.25 million, a PE ratio of -10.26 and a beta of 1.96.

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, 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 analysts’ expectations of $44.14 million. During the same quarter in the prior year, the company posted ($0.31) EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts anticipate that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

Insider Activity at Applied Optoelectronics

In other Applied Optoelectronics 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 sale, the insider now directly owns 132,921 shares in the company, valued at $1,996,473.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Institutional investors and hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co acquired a new stake in Applied Optoelectronics during the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 purchasing an additional 6,787 shares during the period. Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics in the second quarter valued at $89,000. Truvestments Capital LLC acquired a new position in Applied Optoelectronics during the 1st quarter worth $161,000. Finally, Summit Securities Group LLC purchased a new stake in Applied Optoelectronics during the 2nd quarter worth about $109,000. 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.