Applied Optoelectronics (NASDAQ:AAOI) Trading Up 12.6% on Analyst Upgrade

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price shot up 12.6% during mid-day trading on Monday after Rosenblatt Securities raised their price target on the stock to $30.00. Rosenblatt Securities currently has a buy rating on the stock. Applied Optoelectronics traded as high as $16.95 and last traded at $16.53. 1,319,424 shares changed hands during trading, a decline of 67% from the average session volume of 3,963,368 shares. The stock had previously closed at $14.67.

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

Insider Buying and Selling at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 2,000 shares of Applied Optoelectronics stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.06, for a total value of $46,120.00. Following the transaction, the chief financial officer now owns 196,581 shares of the company’s stock, valued at $4,533,157.86. The trade was a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

A number of large investors have recently made changes to their positions in AAOI. Nomura Holdings Inc. acquired a new stake in shares of Applied Optoelectronics in the 4th quarter worth $31,331,000. Yong Rong HK Asset Management Ltd purchased a new stake in Applied Optoelectronics during the 4th quarter worth approximately $27,645,000. Jefferies Financial Group Inc. purchased a new position in shares of Applied Optoelectronics in the fourth quarter worth $23,354,000. Assenagon Asset Management S.A. grew its holdings in shares of Applied Optoelectronics by 182.7% during the first quarter. Assenagon Asset Management S.A. now owns 976,520 shares of the semiconductor company’s stock valued at $14,990,000 after buying an additional 631,128 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Applied Optoelectronics during the 4th quarter worth about $13,379,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Applied Optoelectronics Stock Performance

The firm has a 50 day moving average price of $14.83 and a 200-day moving average price of $24.63. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $936.85 million, a PE ratio of -8.25 and a beta of 2.55.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $99.86 million during the quarter, compared to analysts’ expectations of $99.37 million. Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. The firm’s revenue was up 145.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.31) earnings per share. Research analysts expect that Applied Optoelectronics, Inc. will post -1.18 EPS for the current fiscal year.

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.