Applied Optoelectronics (NASDAQ:AAOI) had its price target raised by DA Davidson to $42.00 in a report issued on Thursday, The Fly reports. They currently have a buy rating on the semiconductor company’s stock.
AAOI has been the subject of several other reports. Needham & Company LLC reduced their target price on Applied Optoelectronics to $35.00 and set a buy rating for the company in a research note on Monday, October 1st. B. Riley reduced their target price on Applied Optoelectronics from $24.00 to $22.00 and set a neutral rating for the company in a research note on Monday. BidaskClub raised Applied Optoelectronics from a hold rating to a buy rating in a research note on Tuesday, August 28th. Rosenblatt Securities reaffirmed a sell rating and set a $30.00 target price on shares of Applied Optoelectronics in a research note on Wednesday, July 11th. Finally, ValuEngine downgraded Applied Optoelectronics from a sell rating to a strong sell rating in a research note on Thursday, September 27th. Seven equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $25.11.
NASDAQ:AAOI traded down $0.02 during trading hours on Thursday, reaching $21.68. The company had a trading volume of 130,715 shares, compared to its average volume of 1,001,844. Applied Optoelectronics has a 1-year low of $17.95 and a 1-year high of $50.30. The company has a market capitalization of $399.87 million, a PE ratio of 5.10, a PEG ratio of 1.81 and a beta of 2.56. The company has a current ratio of 3.22, a quick ratio of 1.92 and a debt-to-equity ratio of 0.17.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Wednesday, November 7th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.25. Applied Optoelectronics had a return on equity of 14.77% and a net margin of 10.95%. The company had revenue of $56.40 million during the quarter, compared to the consensus estimate of $56.55 million. During the same period in the previous year, the company posted $1.08 earnings per share. Applied Optoelectronics’s revenue for the quarter was down 36.6% on a year-over-year basis. Equities research analysts predict that Applied Optoelectronics will post 0.75 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Applied Optoelectronics by 10.6% in the 2nd quarter. BlackRock Inc. now owns 2,827,109 shares of the semiconductor company’s stock valued at $126,935,000 after purchasing an additional 271,712 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Applied Optoelectronics by 17.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 359,689 shares of the semiconductor company’s stock valued at $16,150,000 after purchasing an additional 54,595 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Applied Optoelectronics in the 3rd quarter valued at $908,000. SG Americas Securities LLC raised its stake in Applied Optoelectronics by 728.2% in the 3rd quarter. SG Americas Securities LLC now owns 39,489 shares of the semiconductor company’s stock valued at $974,000 after purchasing an additional 34,721 shares during the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in Applied Optoelectronics in the 2nd quarter valued at $1,114,000. 71.64% of the stock is owned by institutional investors and hedge funds.
About Applied Optoelectronics
Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.
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