Rosenblatt Securities Issues Positive Forecast for Applied Optoelectronics (NASDAQ:AAOI) Stock Price

Applied Optoelectronics (NASDAQ:AAOI) had its price target hoisted by Rosenblatt Securities from $30.00 to $34.00 in a research report report published on Thursday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also weighed in on AAOI. Northland Securities upped their target price on Applied Optoelectronics to $50.00 and gave the company a “buy” rating in a report on Friday, June 13th. B. Riley raised shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a research note on Friday, March 7th. Raymond James Financial dropped 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. Finally, Wall Street Zen upgraded shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

Applied Optoelectronics Stock Performance

NASDAQ:AAOI opened at $27.77 on Thursday. The firm’s fifty day simple moving average is $16.85 and its 200-day simple moving average is $22.31. The company has a quick ratio of 1.34, a current ratio of 1.88 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.54 billion, a PE ratio of -7.19 and a beta of 2.64. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $44.50.

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, beating analysts’ consensus estimates of ($0.04) by $0.02. The company 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 55.98% and a negative return on equity of 15.40%. The firm’s quarterly revenue was up 145.5% compared to the same quarter last year. During the same period last year, the company posted ($0.31) earnings per share. Analysts expect that Applied Optoelectronics will post -1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 bought at an average price of $18.22 per share, for a total transaction of $386,264.00. Following the acquisition, the chief executive officer now directly owns 1,659,025 shares of the company’s stock, valued at $30,227,435.50. This represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stefan J. Murry sold 2,000 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.05, for a total transaction of $32,100.00. Following the transaction, the chief financial officer now directly owns 321,036 shares of the company’s stock, valued at approximately $5,152,627.80. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,263 shares of company stock valued at $726,570 in the last ninety days. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several hedge funds have recently modified their holdings of the stock. Corebridge Financial Inc. raised its position in shares of Applied Optoelectronics by 2.4% in the 4th quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company’s stock worth $747,000 after buying an additional 471 shares during the period. Arizona State Retirement System grew its position in Applied Optoelectronics by 5.7% during the fourth quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 603 shares during the period. Summit Investment Advisors Inc. increased its stake 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 worth $157,000 after acquiring an additional 637 shares during the last quarter. Rhumbline Advisers increased its stake in Applied Optoelectronics by 1.1% during the first quarter. Rhumbline Advisers now owns 61,017 shares of the semiconductor company’s stock worth $937,000 after acquiring an additional 669 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of Applied Optoelectronics by 3.6% in the 4th quarter. Virtu Financial LLC now owns 25,529 shares of the semiconductor company’s stock worth $941,000 after purchasing an additional 895 shares during the period. 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.