Applied Optoelectronics (NASDAQ:AAOI) Price Target Cut to $20.00 by Analysts at Raymond James

Applied Optoelectronics (NASDAQ:AAOI) had its price objective dropped by equities researchers at Raymond James from $31.00 to $20.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Raymond James’ target price would suggest a potential upside of 74.67% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Wednesday, February 26th. Northland Securities reiterated an “outperform” rating and set a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. B. Riley upgraded shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a report on Friday, March 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $36.00 price target on shares of Applied Optoelectronics in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.60.

Applied Optoelectronics Stock Performance

Shares of NASDAQ AAOI opened at $11.45 on Monday. The company has a 50-day simple moving average of $19.39 and a 200-day simple moving average of $25.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The company has a market cap of $570.79 million, a PE ratio of -5.56 and a beta of 2.57. Applied Optoelectronics has a 12 month low of $6.70 and a 12 month high of $44.50.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. The firm had revenue of $100.27 million during the quarter, compared to analysts’ expectations of $99.92 million. On average, equities analysts anticipate that Applied Optoelectronics will post -1.18 earnings per share for the current year.

Insider Transactions at Applied Optoelectronics

In related news, CFO Stefan J. Murry sold 4,000 shares of Applied Optoelectronics stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $31.72, for a total transaction of $126,880.00. Following the transaction, the chief financial officer now owns 212,129 shares in the company, valued at approximately $6,728,731.88. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 8,298 shares of company stock worth $253,821. 4.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Corebridge Financial Inc. grew its stake in shares of Applied Optoelectronics by 2.4% in the fourth quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company’s stock valued at $747,000 after buying an additional 471 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Applied Optoelectronics by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock worth $210,000 after acquiring an additional 483 shares during the period. Arizona State Retirement System grew its position in Applied Optoelectronics by 5.7% in the fourth quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 603 shares in the last quarter. Summit Investment Advisors Inc. grew its position in Applied Optoelectronics by 17.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 637 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in shares of Applied Optoelectronics by 3.6% during the fourth quarter. Virtu Financial LLC now owns 25,529 shares of the semiconductor company’s stock valued at $941,000 after purchasing an additional 895 shares during the period. 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.