Rosenblatt Securities Reiterates “Buy” Rating for Applied Optoelectronics (NASDAQ:AAOI)

Applied Optoelectronics (NASDAQ:AAOI)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $20.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 23.69% from the company’s previous close.

Other research analysts also recently issued reports about the stock. B. Riley cut their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. B. Riley Financial reaffirmed a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Thursday, October 3rd. Finally, Raymond James upgraded Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research note on Tuesday, September 3rd. One 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. According to data from MarketBeat, Applied Optoelectronics currently has a consensus rating of “Hold” and an average target price of $13.75.

Applied Optoelectronics Stock Down 1.7 %

NASDAQ:AAOI traded down $0.28 during trading hours on Wednesday, hitting $16.17. 2,080,743 shares of the company traded hands, compared to its average volume of 2,447,224. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. The company has a market cap of $629.14 million, a PE ratio of -8.88 and a beta of 1.96. The firm’s 50-day simple moving average is $11.42 and its 200-day simple moving average is $10.96. Applied Optoelectronics has a one year low of $6.66 and a one year high of $24.75.

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

Insiders Place Their Bets

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the completion of the transaction, the insider now owns 132,921 shares in the company, valued at approximately $1,996,473.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics in the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 during the period. Point72 Hong Kong Ltd purchased a new stake in Applied Optoelectronics during the second quarter valued at $89,000. Truvestments Capital LLC bought a new position in Applied Optoelectronics in the first quarter valued at about $161,000. Finally, Summit Securities Group LLC purchased a new position in Applied Optoelectronics in the second quarter worth about $109,000. 61.72% of the stock is 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.