Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up – What’s Next?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) gapped up before the market opened on Monday . The stock had previously closed at $17.86, but opened at $18.50. Applied Optoelectronics shares last traded at $18.37, with a volume of 973,255 shares changing hands.

Analyst Ratings Changes

Several analysts have weighed in on AAOI shares. B. Riley lowered their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research note on Thursday, October 3rd. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Applied Optoelectronics in a research report on Wednesday, October 9th. B. Riley Financial reissued a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.75.

Applied Optoelectronics Trading Up 5.4 %

The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The firm has a market cap of $732.64 million, a PE ratio of -10.35 and a beta of 1.96. The firm has a fifty day simple moving average of $11.93 and a two-hundred day simple moving average of $11.02.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. The company had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) EPS. Equities analysts forecast that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

Insider Transactions at Applied Optoelectronics

In related news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total transaction of $150,200.00. Following the sale, the insider now owns 132,921 shares of the company’s stock, valued at $1,996,473.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Applied Optoelectronics during the first quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 6,787 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Applied Optoelectronics in the second quarter worth approximately $89,000. Summit Securities Group LLC bought a new stake in Applied Optoelectronics in the 2nd quarter worth approximately $109,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Applied Optoelectronics during the 2nd quarter valued at $118,000. 61.72% of the stock is owned by institutional investors.

About Applied Optoelectronics

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.