Northland Securities Issues Positive Forecast for Applied Optoelectronics (NASDAQ:AAOI) Stock Price

Applied Optoelectronics (NASDAQ:AAOI - Free Report) had its price objective raised by Northland Securities from $18.00 to $25.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company's stock.

A number of other analysts also recently issued reports on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price target on shares of Applied Optoelectronics in a report on Wednesday, October 9th. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a report on Friday, October 25th. Raymond James boosted their target price on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday. B. Riley Financial reissued a "neutral" rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Finally, 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 research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $18.70.

Applied Optoelectronics Stock Up 55.1 %

Shares of AAOI traded up $9.86 on Friday, hitting $27.76. 19,430,463 shares of the stock traded hands, compared to its average volume of 2,555,824. Applied Optoelectronics has a one year low of $6.70 and a one year high of $27.81. The company has a market capitalization of $1.14 billion, a PE ratio of -13.48 and a beta of 1.96. The business has a 50 day simple moving average of $15.59 and a 200 day simple moving average of $11.79. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share 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 quarter in the previous year, the business earned ($0.31) earnings per share. The company's revenue was up 4.0% on a year-over-year basis. As a group, equities analysts forecast that Applied Optoelectronics will post -1.08 earnings per share for the current fiscal year.

Insider Activity

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total value of $150,200.00. Following the completion of the sale, the insider now owns 132,921 shares in the company, valued at approximately $1,996,473.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several institutional investors and hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co purchased a new position in Applied Optoelectronics during the first quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company's stock valued at $77,000 after buying an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Applied Optoelectronics during the second quarter valued at approximately $89,000. Summit Securities Group LLC purchased a new position in Applied Optoelectronics during the 2nd quarter valued at approximately $109,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Applied Optoelectronics in the 2nd quarter worth approximately $118,000. 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.