Applied Optoelectronics (NASDAQ:AAOI) Price Target Lowered to $30.00 at Rosenblatt Securities

Applied Optoelectronics (NASDAQ:AAOI) had its price target reduced by Rosenblatt Securities from $36.00 to $30.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor company’s stock.

AAOI has been the subject of several other reports. B. Riley raised shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 price target for the company in a research note on Friday, March 7th. Raymond James decreased their price target on Applied Optoelectronics from $31.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Finally, StockNews.com raised Applied Optoelectronics to a “sell” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Applied Optoelectronics currently has an average rating of “Hold” and a consensus price target of $22.40.

Applied Optoelectronics Price Performance

AAOI opened at $10.95 on Tuesday. The company has a fifty day moving average price of $17.64 and a two-hundred day moving average price of $24.93. The firm has a market capitalization of $545.87 million, a PE ratio of -5.32 and a beta of 2.57. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $44.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $100.27 million during the quarter, compared to analyst estimates of $99.92 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. As a group, analysts anticipate that Applied Optoelectronics will post -1.18 earnings per share for the current year.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,000 shares of the 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. This represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAOI. Meeder Asset Management Inc. bought a new stake in Applied Optoelectronics during the fourth quarter worth about $38,000. Sterling Capital Management LLC boosted its position in shares of Applied Optoelectronics by 858.2% during the 4th 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 in the last quarter. Canada Pension Plan Investment Board bought a new position in Applied Optoelectronics in the fourth quarter valued at approximately $63,000. Summit Investment Advisors Inc. raised its position in Applied Optoelectronics by 17.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 637 shares in the last quarter. Finally, FMR LLC lifted its stake in Applied Optoelectronics by 3,290.6% during the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 5,956 shares during the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.