Rosenblatt Securities Boosts Applied Optoelectronics (NASDAQ:AAOI) Price Target to $20.00

Applied Optoelectronics (NASDAQ:AAOI) had its price objective raised by Rosenblatt Securities from $15.00 to $20.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. They currently have a buy rating on the semiconductor company’s stock.

Other research analysts also recently issued reports about the stock. B. Riley Financial reissued a neutral rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. Raymond James raised Applied Optoelectronics from a market perform rating to an outperform rating and set a $17.00 price target on the stock in a report on Tuesday, September 3rd. B. Riley cut their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a neutral rating for the company in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Applied Optoelectronics to a sell rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $13.75.

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI opened at $14.61 on Thursday. 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 has a fifty-two week low of $6.66 and a fifty-two week high of $24.75. The stock has a market cap of $597.55 million, a PE ratio of -8.03 and a beta of 1.96. The stock has a fifty day moving average of $9.73 and a 200-day moving average of $10.96.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned ($0.31) EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Applied Optoelectronics will post -1.08 earnings per share for the current year.

Institutional Trading of Applied Optoelectronics

A number of hedge funds have recently bought and sold shares of AAOI. CANADA LIFE ASSURANCE Co purchased a new position in shares of Applied Optoelectronics during the first quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 period. Point72 Hong Kong Ltd bought a new position in shares of Applied Optoelectronics during the second quarter valued at about $89,000. Truvestments Capital LLC purchased a new position in shares of Applied Optoelectronics in the first quarter worth about $161,000. Finally, Summit Securities Group LLC bought a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at about $109,000. 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.