Applied Optoelectronics (NASDAQ:AAOI) Now Covered by Wolfe Research

Wolfe Research initiated coverage on shares of Applied Optoelectronics (NASDAQ:AAOI) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a peer perform rating on the semiconductor company’s stock.

AAOI has been the topic of several other reports. Northland Securities lifted their price target on shares of Applied Optoelectronics to $50.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Rosenblatt Securities lifted their price target on shares of Applied Optoelectronics from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. Raymond James Financial decreased their price target on shares of Applied Optoelectronics from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen raised shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.80.

Applied Optoelectronics Trading Up 1.7%

Shares of Applied Optoelectronics stock opened at $26.88 on Tuesday. Applied Optoelectronics has a 12-month low of $6.70 and a 12-month high of $44.50. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -6.96 and a beta of 2.78. The company has a current ratio of 1.88, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $19.25 and its 200-day moving average price is $21.82.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Applied Optoelectronics had a negative net margin of 55.98% and a negative return on equity of 15.40%. The firm had revenue of $99.86 million for the quarter, compared to the consensus estimate of $99.37 million. During the same period in the prior year, the firm posted ($0.31) earnings per share. The company’s revenue for the quarter was up 145.5% on a year-over-year basis. On average, equities analysts expect that Applied Optoelectronics will post -1.18 earnings per share for the current fiscal year.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 11,426 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $19.10, for a total transaction of $218,236.60. Following the completion of the transaction, the insider owned 153,900 shares of the company’s stock, valued at approximately $2,939,490. This trade represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Chih-Hsiang (Thompson) Lin acquired 21,200 shares of the stock in a transaction on Tuesday, May 13th. The shares were purchased at an average cost of $18.22 per share, with a total value of $386,264.00. Following the transaction, the chief executive officer directly owned 1,659,025 shares of the company’s stock, valued at approximately $30,227,435.50. This trade represents a 1.29% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 39,263 shares of company stock worth $726,570. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors and hedge funds have recently modified their holdings of AAOI. Bank of New York Mellon Corp increased its holdings in shares of Applied Optoelectronics by 25.6% during the fourth quarter. Bank of New York Mellon Corp now owns 125,131 shares of the semiconductor company’s stock valued at $4,612,000 after acquiring an additional 25,482 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Applied Optoelectronics by 8.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 118,249 shares of the semiconductor company’s stock valued at $4,359,000 after acquiring an additional 9,435 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Applied Optoelectronics by 5.7% during 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. Raymond James Financial Inc. bought a new position in shares of Applied Optoelectronics during the fourth quarter valued at $6,556,000. Finally, Truvestments Capital LLC increased its holdings in shares of Applied Optoelectronics by 7.1% during the fourth quarter. Truvestments Capital LLC now owns 16,995 shares of the semiconductor company’s stock valued at $626,000 after acquiring an additional 1,133 shares in the last quarter. 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.