Applied Optoelectronics (NASDAQ:AAOI) had its target price lowered by Piper Jaffray Companies to $20.00 in a research report sent to investors on Wednesday morning, The Fly reports. Piper Jaffray Companies currently has a neutral rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. lowered Applied Optoelectronics to a sell rating in a report on Thursday, September 27th. B. Riley raised their price objective on Applied Optoelectronics from $30.50 to $34.50 and gave the company a neutral rating in a report on Wednesday, August 8th. Craig Hallum set a $28.00 price objective on Applied Optoelectronics and gave the company a sell rating in a report on Wednesday, August 8th. DA Davidson restated a buy rating and issued a $36.00 price objective on shares of Applied Optoelectronics in a report on Monday, October 1st. Finally, Loop Capital restated a hold rating and issued a $45.00 price objective on shares of Applied Optoelectronics in a report on Wednesday, August 8th. Seven analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $25.11.

AAOI stock traded down $0.04 during midday trading on Wednesday, reaching $21.66. The stock had a trading volume of 2,005,990 shares, compared to its average volume of 1,070,229. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.92 and a current ratio of 3.22. The firm has a market capitalization of $381.75 million, a P/E ratio of 5.12, a PEG ratio of 1.73 and a beta of 2.56. Applied Optoelectronics has a 52-week low of $17.95 and a 52-week high of $50.30.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Wednesday, November 7th. The semiconductor company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.25. The company had revenue of $56.40 million for the quarter, compared to analyst estimates of $56.55 million. Applied Optoelectronics had a return on equity of 8.70% and a net margin of 4.20%. The firm’s revenue for the quarter was down 36.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. On average, equities analysts forecast that Applied Optoelectronics will post 0.75 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Applied Optoelectronics by 10.6% in the 2nd quarter. BlackRock Inc. now owns 2,827,109 shares of the semiconductor company’s stock worth $126,935,000 after acquiring an additional 271,712 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Applied Optoelectronics by 17.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 359,689 shares of the semiconductor company’s stock worth $16,150,000 after acquiring an additional 54,595 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Applied Optoelectronics by 1.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 322,712 shares of the semiconductor company’s stock worth $7,959,000 after acquiring an additional 5,559 shares during the last quarter. Northern Trust Corp increased its stake in shares of Applied Optoelectronics by 3.2% in the 2nd quarter. Northern Trust Corp now owns 224,674 shares of the semiconductor company’s stock worth $10,088,000 after acquiring an additional 6,884 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Applied Optoelectronics by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 186,911 shares of the semiconductor company’s stock worth $4,684,000 after acquiring an additional 7,875 shares during the last quarter. 71.64% of the stock is owned by institutional investors and hedge funds.

About Applied Optoelectronics

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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