Applied Optoelectronics (NASDAQ:AAOI) Given New $30.00 Price Target at Rosenblatt Securities

Applied Optoelectronics (NASDAQ:AAOI) had its target price hoisted by Rosenblatt Securities to $30.00 in a report released on Friday,Stock Target Advisor reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other research firms also recently weighed in on AAOI. B. Riley upgraded shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a report on Friday, March 7th. Raymond James restated an “outperform” rating and set a $20.00 price target on shares of Applied Optoelectronics in a research report on Thursday, April 24th. Finally, StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Applied Optoelectronics has an average rating of “Hold” and an average price target of $22.00.

Applied Optoelectronics Price Performance

NASDAQ:AAOI opened at $14.67 on Friday. The company has a market capitalization of $814.39 million, a P/E ratio of -7.12 and a beta of 2.55. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $44.50. The stock’s fifty day moving average is $14.83 and its two-hundred day moving average is $24.53.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. The firm had revenue of $99.86 million for the quarter, compared to analyst estimates of $99.37 million. During the same period in the previous year, the firm earned ($0.31) EPS. Applied Optoelectronics’s revenue was up 145.5% on a year-over-year basis. Equities analysts expect that Applied Optoelectronics will post -1.18 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Stefan J. Murry sold 2,000 shares of Applied Optoelectronics stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.06, for a total value of $46,120.00. Following the completion of the transaction, the chief financial officer now directly owns 196,581 shares in the company, valued at approximately $4,533,157.86. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.96% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several large investors have recently bought and sold shares of AAOI. Meeder Asset Management Inc. acquired a new position in shares of Applied Optoelectronics during the fourth quarter worth about $38,000. Sterling Capital Management LLC lifted its stake in Applied Optoelectronics by 858.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Applied Optoelectronics during the 4th quarter worth approximately $63,000. Summit Investment Advisors Inc. grew its holdings in Applied Optoelectronics by 17.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company’s stock worth $157,000 after acquiring an additional 637 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Applied Optoelectronics by 15.9% in the 1st quarter. Arizona State Retirement System now owns 13,036 shares of the semiconductor company’s stock valued at $200,000 after purchasing an additional 1,790 shares during the last quarter. 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.