Applied Optoelectronics (NASDAQ:AAOI) Given New $20.00 Price Target at Raymond James

Applied Optoelectronics (NASDAQ:AAOI) had its price objective trimmed by Raymond James from $31.00 to $20.00 in a report issued on Monday,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

A number of other brokerages have also weighed in on AAOI. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Wednesday, February 26th. B. Riley raised Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a research note on Friday, March 7th. Northland Securities restated an “outperform” rating and issued a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Finally, Rosenblatt Securities restated a “buy” rating and set a $36.00 target price on shares of Applied Optoelectronics in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Applied Optoelectronics presently has a consensus rating of “Hold” and a consensus target price of $23.60.

Applied Optoelectronics Stock Down 0.3 %

Applied Optoelectronics stock opened at $11.25 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $560.82 million, a P/E ratio of -5.46 and a beta of 2.57. The firm has a 50 day moving average price of $19.77 and a 200-day moving average price of $25.15. Applied Optoelectronics has a twelve month low of $6.70 and a twelve month high of $44.50.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. The firm had revenue of $100.27 million during the quarter, compared to analysts’ expectations of $99.92 million. As a group, equities analysts predict that Applied Optoelectronics will post -1.18 EPS for the current year.

Insider Buying and Selling at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 4,000 shares of Applied Optoelectronics stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the completion of the transaction, the chief financial officer now owns 212,129 shares of the company’s stock, valued at $6,728,731.88. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard B. Black sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the transaction, the director now owns 157,813 shares in the company, valued at approximately $4,576,577. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,298 shares of company stock valued at $543,821. 4.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in shares of Applied Optoelectronics in the fourth quarter valued at $38,000. Sterling Capital Management LLC raised its holdings in Applied Optoelectronics by 858.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 1,150 shares during the period. Canada Pension Plan Investment Board bought a new stake in Applied Optoelectronics in the fourth quarter worth $63,000. FMR LLC boosted its stake in Applied Optoelectronics by 3,290.6% during the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after buying an additional 5,956 shares during the period. Finally, Summit Investment Advisors Inc. raised its position in Applied Optoelectronics by 17.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 637 shares during the period. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.