Brokerages Set Applied Optoelectronics Inc (NASDAQ:AAOI) Target Price at $9.60

Applied Optoelectronics Inc (NASDAQ:AAOI) has been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $9.60.

A number of equities research analysts have recently issued reports on AAOI shares. ValuEngine lowered Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 24th. B. Riley boosted their target price on Applied Optoelectronics from $8.60 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Zacks Investment Research lowered Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Piper Sandler cut their target price on Applied Optoelectronics from $7.50 to $10.00 in a research report on Thursday, March 26th. Finally, Needham & Company LLC assumed coverage on Applied Optoelectronics in a report on Friday, May 8th. They set a “hold” rating on the stock.

Shares of AAOI traded up $0.60 during midday trading on Friday, reaching $10.79. The stock had a trading volume of 881,028 shares, compared to its average volume of 714,689. Applied Optoelectronics has a 52 week low of $5.00 and a 52 week high of $15.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.91 and a quick ratio of 1.00. The firm’s 50 day moving average price is $9.25 and its 200-day moving average price is $10.00. The company has a market capitalization of $219.46 million, a P/E ratio of -3.00 and a beta of 2.00.

Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Thursday, May 7th. The semiconductor company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.10. The company had revenue of $40.47 million for the quarter, compared to analyst estimates of $45.03 million. Applied Optoelectronics had a negative return on equity of 11.37% and a negative net margin of 40.52%. On average, equities analysts forecast that Applied Optoelectronics will post -1.44 earnings per share for the current year.

In other Applied Optoelectronics news, CEO Chih-Hsiang (Thompson) Lin sold 15,577 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $11.25, for a total value of $175,241.25. Following the transaction, the chief executive officer now owns 853,501 shares in the company, valued at $9,601,886.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stefan J. Murry sold 4,000 shares of the business’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $9.04, for a total value of $36,160.00. Following the completion of the transaction, the chief financial officer now owns 110,291 shares in the company, valued at approximately $997,030.64. The disclosure for this sale can be found here. Insiders have sold 21,577 shares of company stock worth $233,401 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in shares of Applied Optoelectronics by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 150,996 shares of the semiconductor company’s stock worth $1,794,000 after purchasing an additional 919 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Applied Optoelectronics by 5.2% during the 4th quarter. Rhumbline Advisers now owns 63,641 shares of the semiconductor company’s stock worth $756,000 after purchasing an additional 3,168 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Applied Optoelectronics by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 116,747 shares of the semiconductor company’s stock valued at $1,387,000 after acquiring an additional 1,367 shares in the last quarter. Investment Counselors of Maryland LLC raised its holdings in Applied Optoelectronics by 0.9% in the 4th quarter. Investment Counselors of Maryland LLC now owns 475,861 shares of the semiconductor company’s stock valued at $5,653,000 after acquiring an additional 4,303 shares in the last quarter. Finally, Great West Life Assurance Co. Can acquired a new position in Applied Optoelectronics in the 4th quarter valued at approximately $265,000. Hedge funds and other institutional investors own 58.90% of the company’s stock.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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