Applied Optoelectronics (NASDAQ:AAOI) Stock Price Up 4.1%

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shot up 4.1% on Monday . The company traded as high as $14.68 and last traded at $14.40. 311,378 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 2,423,591 shares. The stock had previously closed at $13.83.

Analyst Ratings Changes

A number of analysts have recently issued reports on AAOI shares. B. Riley Financial reiterated a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 8th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, August 9th. Rosenblatt Securities raised their target price on Applied Optoelectronics from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. B. Riley reduced their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Raymond James upgraded 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 research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Applied Optoelectronics has an average rating of “Hold” and an average price target of $13.75.

Applied Optoelectronics Stock Performance

The stock’s fifty day moving average is $10.20 and its two-hundred day moving average is $10.91. The firm has a market cap of $544.32 million, a price-to-earnings ratio of -7.70 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating 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 business had revenue of $43.27 million during the quarter, compared to analyst estimates of $44.14 million. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, analysts expect that Applied Optoelectronics, Inc. will post -1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Applied Optoelectronics during the 1st quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at approximately $89,000. Truvestments Capital LLC purchased a new stake in shares of Applied Optoelectronics in the 1st quarter valued at approximately $161,000. Finally, Summit Securities Group LLC purchased a new position in Applied Optoelectronics during the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.