Raymond James Forecasts Strong Price Appreciation for Applied Optoelectronics (NASDAQ:AAOI) Stock

Applied Optoelectronics (NASDAQ:AAOI - Free Report) had its price target increased by Raymond James from $17.00 to $23.00 in a report released on Friday,Benzinga reports. They currently have an outperform rating on the semiconductor company's stock.

Other equities research analysts have also issued research reports about 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. Rosenblatt Securities restated a "buy" rating and set a $20.00 price objective on shares of Applied Optoelectronics in a research note on Wednesday, October 9th. B. Riley reduced their target price on Applied Optoelectronics from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Finally, StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Applied Optoelectronics currently has a consensus rating of "Hold" and an average target price of $18.70.

Applied Optoelectronics Stock Up 55.1 %

Shares of NASDAQ AAOI traded up $9.86 during trading on Friday, reaching $27.76. 19,411,179 shares of the stock were exchanged, compared to its average volume of 2,555,824. The business's 50-day moving average price is $15.59 and its 200 day moving average price is $11.79. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -13.48 and a beta of 1.96. Applied Optoelectronics has a twelve month low of $6.70 and a twelve month high of $27.81. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last announced its earnings results 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 company had revenue of $43.27 million during the quarter, compared to the consensus estimate of $44.14 million. The company's revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned ($0.31) earnings per share. As a group, equities analysts forecast that Applied Optoelectronics will post -1.08 EPS for the current fiscal year.

Insider Activity

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 24th. The shares were 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 directly owns 132,921 shares of the company's stock, valued at approximately $1,996,473.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Applied Optoelectronics

A number of institutional investors and hedge funds have recently modified their holdings of AAOI. CANADA LIFE ASSURANCE Co purchased a new position in Applied Optoelectronics during the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 in the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics during the second quarter valued at $89,000. Emerald Mutual Fund Advisers Trust lifted its stake in Applied Optoelectronics by 2.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company's stock worth $5,869,000 after acquiring an additional 11,037 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Applied Optoelectronics during the 1st quarter worth about $161,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.