Applied Optoelectronics (NASDAQ:AAOI) PT Lowered to $12.00

Applied Optoelectronics (NASDAQ:AAOI) had its target price dropped by B. Riley from $16.00 to $12.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. B. Riley’s target price points to a potential upside of 19.40% from the stock’s current price.

AAOI has been the subject of several other research reports. B. Riley Financial reduced their price objective on shares of Applied Optoelectronics from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday. TheStreet upgraded shares of Applied Optoelectronics from a “d” rating to a “c-” rating in a research note on Friday, February 23rd. Rosenblatt Securities reduced their target price on shares of Applied Optoelectronics from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, StockNews.com downgraded shares of Applied Optoelectronics from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.00.

Applied Optoelectronics Trading Down 4.6 %

NASDAQ:AAOI traded down $0.49 during trading hours on Friday, reaching $10.05. 4,862,058 shares of the stock were exchanged, compared to its average volume of 2,734,879. The business has a 50-day moving average of $12.70 and a two-hundred day moving average of $15.06. The company has a quick ratio of 1.16, a current ratio of 1.85 and a debt-to-equity ratio of 0.38. Applied Optoelectronics has a twelve month low of $1.64 and a twelve month high of $24.75. The company has a market capitalization of $389.24 million, a price-to-earnings ratio of -5.83 and a beta of 2.12.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.04 EPS for the quarter. Applied Optoelectronics had a negative net margin of 25.75% and a negative return on equity of 13.83%. The firm had revenue of $60.50 million during the quarter, compared to analysts’ expectations of $65.19 million. During the same quarter last year, the business earned ($0.27) earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts predict that Applied Optoelectronics will post -0.2 EPS for the current year.

Insider Activity at Applied Optoelectronics

In other Applied Optoelectronics news, CEO Chih-Hsiang (Thompson) Lin acquired 11,780 shares of the business’s stock in a transaction on Monday, March 18th. The shares were acquired at an average price of $12.66 per share, with a total value of $149,134.80. Following the completion of the transaction, the chief executive officer now owns 1,218,160 shares in the company, valued at $15,421,905.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Chih-Hsiang (Thompson) Lin purchased 11,780 shares of the stock in a transaction on Monday, March 18th. The shares were acquired at an average price of $12.66 per share, for a total transaction of $149,134.80. Following the completion of the transaction, the chief executive officer now directly owns 1,218,160 shares of the company’s stock, valued at approximately $15,421,905.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Che-Wei Lin bought 31,370 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average price of $12.70 per share, with a total value of $398,399.00. Following the transaction, the director now directly owns 220,133 shares in the company, valued at $2,795,689.10. The disclosure for this purchase can be found here. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAOI. Goldman Sachs Group Inc. lifted its holdings in shares of Applied Optoelectronics by 9,687.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock valued at $16,498,000 after purchasing an additional 845,223 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong boosted its stake in Applied Optoelectronics by 30.4% during the first quarter. CloudAlpha Capital Management Limited Hong Kong now owns 831,200 shares of the semiconductor company’s stock valued at $11,520,000 after buying an additional 194,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Applied Optoelectronics by 875.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 631,799 shares of the semiconductor company’s stock valued at $8,757,000 after purchasing an additional 567,056 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Applied Optoelectronics during the 4th quarter worth approximately $9,716,000. Finally, Citigroup Inc. lifted its stake in shares of Applied Optoelectronics by 0.6% during the 3rd quarter. Citigroup Inc. now owns 318,270 shares of the semiconductor company’s stock worth $3,491,000 after acquiring an additional 1,872 shares during the last quarter. 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.