Applied Optoelectronics (NASDAQ:AAOI) Raised to “Sell” at StockNews.com

StockNews.com upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) to a sell rating in a research report released on Thursday.

Several other analysts also recently commented on AAOI. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Applied Optoelectronics in a research note on Wednesday, October 9th. Raymond James upgraded Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a research note on Tuesday, September 3rd. B. Riley Financial restated a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, B. Riley dropped their price target on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.75.

Applied Optoelectronics Stock Performance

Shares of AAOI opened at $18.57 on Thursday. The business’s fifty day simple moving average is $13.02 and its two-hundred day simple moving average is $11.20. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. Applied Optoelectronics has a 12 month low of $6.66 and a 12 month high of $24.75. The company has a market cap of $722.52 million, a price-to-earnings ratio of -10.20 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS 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 business had revenue of $43.27 million for the quarter, compared to the consensus estimate of $44.14 million. During the same period last year, the business posted ($0.31) EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Research analysts anticipate that Applied Optoelectronics will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider David C. Kuo sold 10,000 shares of the firm’s 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 transaction, the insider now directly owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Institutional investors and hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics during the first quarter valued at about $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics in the second quarter worth about $89,000. Truvestments Capital LLC purchased a new position in Applied Optoelectronics in the first quarter worth about $161,000. Finally, Summit Securities Group LLC purchased a new position in Applied Optoelectronics in the second quarter worth about $109,000. 61.72% of the stock is owned by institutional investors.

About Applied Optoelectronics

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.