Applied Optoelectronics (NASDAQ:AAOI) Shares Up 8.4%

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) rose 8.4% during mid-day trading on Friday . The stock traded as high as $12.94 and last traded at $12.90. Approximately 983,650 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 2,662,007 shares. The stock had previously closed at $11.90.

Analysts Set New Price Targets

A number of research firms have commented on AAOI. Rosenblatt Securities cut their target price on shares of Applied Optoelectronics from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, May 10th. TheStreet raised shares of Applied Optoelectronics from a “d” rating to a “c-” rating in a research report on Friday, February 23rd. B. Riley decreased their target price on Applied Optoelectronics from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. B. Riley Financial cut their price target on Applied Optoelectronics from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Finally, StockNews.com cut Applied Optoelectronics from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. 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 currently has a consensus rating of “Hold” and a consensus target price of $15.00.

Applied Optoelectronics Price Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.06 and a current ratio of 1.79. The company has a market cap of $487.93 million, a P/E ratio of -6.89 and a beta of 2.12. The firm’s fifty day moving average is $12.07 and its two-hundred day moving average is $15.38.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Thursday, February 22nd. The semiconductor company reported $0.04 EPS for the quarter. Applied Optoelectronics had a negative net margin of 30.65% and a negative return on equity of 16.30%. The firm had revenue of $60.50 million for the quarter, compared to the consensus estimate of $65.19 million. During the same quarter in the previous year, the firm earned ($0.27) earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts anticipate that Applied Optoelectronics, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at Applied Optoelectronics

In other news, Director Che-Wei Lin bought 31,370 shares of the stock in a transaction dated Monday, March 18th. The stock was purchased at an average cost of $12.70 per share, for a total transaction of $398,399.00. Following the transaction, the director now owns 220,133 shares of the company’s stock, valued at $2,795,689.10. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Che-Wei Lin purchased 31,370 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average price of $12.70 per share, for a total transaction of $398,399.00. Following the completion of the transaction, the director now owns 220,133 shares in the company, valued at approximately $2,795,689.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chih-Hsiang (Thompson) Lin bought 11,780 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $12.66 per share, for a total transaction of $149,134.80. Following the transaction, the chief executive officer now owns 1,218,160 shares in the company, valued at approximately $15,421,905.60. The disclosure for this purchase can be found here. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Several hedge funds have recently added to or reduced their stakes in AAOI. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Applied Optoelectronics during the third quarter valued at approximately $167,000. Bank of New York Mellon Corp lifted its stake in shares of Applied Optoelectronics by 360.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 48,617 shares of the semiconductor company’s stock worth $533,000 after acquiring an additional 38,066 shares during the last quarter. Jump Financial LLC purchased a new position in Applied Optoelectronics during the 3rd quarter valued at $320,000. Citigroup Inc. grew its position in Applied Optoelectronics by 0.6% in the 3rd quarter. Citigroup Inc. now owns 318,270 shares of the semiconductor company’s stock valued at $3,491,000 after acquiring an additional 1,872 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Applied Optoelectronics in the third quarter worth $1,401,000. 61.72% of the stock is currently owned by 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.