Applied Optoelectronics (NASDAQ:AAOI) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Applied Optoelectronics (NASDAQ:AAOI) had its target price boosted by equities research analysts at Rosenblatt Securities from $20.00 to $27.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ price objective would indicate a potential downside of 0.94% from the stock’s previous close.

Several other analysts have also issued reports on AAOI. B. Riley Financial reiterated 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 reduced their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Northland Securities upped their target price on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Raymond James increased their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.70.

Applied Optoelectronics Stock Performance

AAOI opened at $27.76 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average price is $15.59 and its two-hundred day moving average price is $11.79. Applied Optoelectronics has a 1-year low of $6.70 and a 1-year high of $27.81. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -14.53 and a beta of 1.96.

Insiders Place Their Bets

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were 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 $1,996,473.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAOI. Shellback Capital LP purchased a new stake in shares of Applied Optoelectronics in the second quarter worth about $8,617,000. Royce & Associates LP lifted its holdings in shares of Applied Optoelectronics by 47.7% in the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock worth $22,847,000 after buying an additional 515,489 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Applied Optoelectronics by 29.2% in the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after buying an additional 442,277 shares in the last quarter. Caxton Associates LP lifted its holdings in shares of Applied Optoelectronics by 550.5% in the second quarter. Caxton Associates LP now owns 411,054 shares of the semiconductor company’s stock worth $3,408,000 after buying an additional 347,867 shares in the last quarter. Finally, Whale Rock Capital Management LLC lifted its holdings in shares of Applied Optoelectronics by 30.0% in 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 buying an additional 308,172 shares in the last quarter. Institutional investors 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.