Analysts at B. Riley began coverage on shares of Applied Optoelectronics (NASDAQ:AAOI) in a research report issued on Wednesday. The brokerage set a “neutral” rating and a $38.00 price target on the semiconductor company’s stock. B. Riley’s target price indicates a potential upside of 6.92% from the company’s previous close.

A number of other research analysts also recently commented on the company. Cowen reissued a “buy” rating and issued a $60.00 price target (down previously from $74.00) on shares of Applied Optoelectronics in a report on Thursday, December 7th. Needham & Company LLC reduced their price target on Applied Optoelectronics from $75.00 to $50.00 and set a “strong-buy” rating for the company in a report on Wednesday, November 8th. Craig Hallum cut Applied Optoelectronics from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. ValuEngine upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 16th. Finally, Zacks Investment Research upgraded Applied Optoelectronics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 13th. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and four have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.98.

Shares of Applied Optoelectronics (AAOI) opened at $35.54 on Wednesday. The firm has a market capitalization of $688.84, a PE ratio of 8.48, a PEG ratio of 0.75 and a beta of 2.88. Applied Optoelectronics has a 1 year low of $21.88 and a 1 year high of $103.41. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.23). The business had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $88.53 million. Applied Optoelectronics had a net margin of 21.29% and a return on equity of 32.35%. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. research analysts expect that Applied Optoelectronics will post 4.22 EPS for the current fiscal year.

In related news, Director Alan D. Moore purchased 22,400 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $44.60 per share, for a total transaction of $999,040.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chih-Hsiang (Thompson) Lin sold 3,600 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $45.24, for a total value of $162,864.00. Following the sale, the insider now owns 522,837 shares in the company, valued at $23,653,145.88. The disclosure for this sale can be found here. Insiders have sold a total of 7,900 shares of company stock worth $365,804 over the last quarter. Insiders own 8.19% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. LSV Asset Management increased its position in Applied Optoelectronics by 76.4% in the 2nd quarter. LSV Asset Management now owns 82,200 shares of the semiconductor company’s stock valued at $5,079,000 after acquiring an additional 35,600 shares during the period. Public Employees Retirement System of Ohio increased its position in Applied Optoelectronics by 132.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock valued at $7,614,000 after acquiring an additional 70,224 shares during the period. Legal & General Group Plc increased its position in Applied Optoelectronics by 629.7% in the 2nd quarter. Legal & General Group Plc now owns 32,193 shares of the semiconductor company’s stock valued at $1,988,000 after acquiring an additional 27,781 shares during the period. Alliancebernstein L.P. increased its position in Applied Optoelectronics by 21.1% in the 2nd quarter. Alliancebernstein L.P. now owns 21,200 shares of the semiconductor company’s stock valued at $1,310,000 after acquiring an additional 3,700 shares during the period. Finally, Principal Financial Group Inc. increased its position in Applied Optoelectronics by 10.4% in the 3rd quarter. Principal Financial Group Inc. now owns 160,471 shares of the semiconductor company’s stock valued at $10,378,000 after acquiring an additional 15,144 shares during the period. Hedge funds and other institutional investors own 76.67% of the company’s stock.

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About Applied Optoelectronics

Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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