Northland Securities Raises Applied Optoelectronics (NASDAQ:AAOI) Price Target to $50.00

Applied Optoelectronics (NASDAQ:AAOI) had its price target hoisted by Northland Securities to $50.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Northland Securities’ price objective would indicate a potential upside of 208.24% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Wall Street Zen downgraded Applied Optoelectronics from a “hold” rating to a “sell” rating in a research report on Saturday, June 7th. Raymond James lowered their target price on shares of Applied Optoelectronics from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Rosenblatt Securities raised their price objective on shares of Applied Optoelectronics to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, B. Riley raised shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.00.

Applied Optoelectronics Stock Performance

Shares of AAOI opened at $16.22 on Friday. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $44.50. 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 cap of $900.98 million, a price-to-earnings ratio of -7.95 and a beta of 2.64. The business has a 50-day simple moving average of $14.92 and a two-hundred day simple moving average of $23.52.

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

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, CEO Chih-Hsiang (Thompson) Lin purchased 21,200 shares of the stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of $18.22 per share, with a total value of $386,264.00. Following the completion of the acquisition, the chief executive officer now owns 1,659,025 shares in the company, valued at $30,227,435.50. The trade was a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stefan J. Murry sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.06, for a total transaction of $46,120.00. Following the transaction, the chief financial officer now owns 196,581 shares in the company, valued at $4,533,157.86. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,263 shares of company stock worth $740,590 over the last three months. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AAOI. Meeder Asset Management Inc. acquired a new stake in Applied Optoelectronics during the 4th quarter valued at approximately $38,000. Sterling Capital Management LLC raised its position in Applied Optoelectronics by 858.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 1,150 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Applied Optoelectronics in the fourth quarter valued at approximately $63,000. AlphaQuest LLC boosted its position in Applied Optoelectronics by 243.9% in the 1st quarter. AlphaQuest LLC now owns 2,297 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Applied Optoelectronics by 17.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 637 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.