Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up to $13.28

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shares gapped up prior to trading on Thursday . The stock had previously closed at $13.28, but opened at $14.09. Applied Optoelectronics shares last traded at $14.02, with a volume of 196,871 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. B. Riley Financial restated a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. B. Riley dropped their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Rosenblatt Securities raised their target price on Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, August 9th. Finally, Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Applied Optoelectronics currently has an average rating of “Hold” and an average price target of $13.75.

Applied Optoelectronics Trading Down 2.6 %

The company has a market capitalization of $538.10 million, a price-to-earnings ratio of -7.60 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The business’s 50 day simple moving average is $10.20 and its 200 day simple moving average is $10.96.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The firm had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. During the same period in the previous year, the firm posted ($0.31) earnings per share. Applied Optoelectronics’s revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

Hedge Funds Weigh In On Applied Optoelectronics

Several large investors have recently added to or reduced their stakes in the company. Shellback Capital LP bought a new stake in shares of Applied Optoelectronics during the 2nd quarter worth about $8,617,000. Goldman Sachs Group Inc. grew its stake in shares of Applied Optoelectronics by 9,687.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock valued at $16,498,000 after buying an additional 845,223 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Applied Optoelectronics by 29.2% during the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after purchasing an additional 442,277 shares during the last quarter. Caxton Associates LP raised its holdings in Applied Optoelectronics by 550.5% during the second quarter. Caxton Associates LP now owns 411,054 shares of the semiconductor company’s stock valued at $3,408,000 after buying an additional 347,867 shares in the last quarter. Finally, Whale Rock Capital Management LLC boosted its position in Applied Optoelectronics by 30.0% during the first quarter. Whale Rock Capital Management LLC now owns 1,333,957 shares of the semiconductor company’s stock worth $18,489,000 after purchasing an additional 308,172 shares during the period. 61.72% of the stock is currently owned by institutional investors.

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.