Piper Jaffray Cos. reiterated their overweight rating on shares of Applied Optoelectronics Inc. (NASDAQ:AAOI) in a research report sent to investors on Friday morning. The brokerage currently has a $27.00 target price on the stock, up from their previous target price of $24.00.
AAOI has been the subject of a number of other research reports. Roth Capital restated a buy rating and set a $23.00 price target on shares of Applied Optoelectronics in a report on Thursday, September 8th. TheStreet upgraded shares of Applied Optoelectronics from a sell rating to a hold rating in a report on Friday, August 19th. Craig Hallum lifted their target price on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the company a buy rating in a report on Thursday, August 25th. Finally, Zacks Investment Research upgraded shares of Applied Optoelectronics from a sell rating to a hold rating in a report on Tuesday, July 12th. Seven equities research analysts have rated the stock with a buy rating, Applied Optoelectronics presently has a consensus rating of Buy and a consensus price target of $24.00.
Applied Optoelectronics (NASDAQ:AAOI) opened at 21.43 on Friday. Applied Optoelectronics has a 1-year low of $8.08 and a 1-year high of $24.18. The stock’s 50 day moving average price is $20.19 and its 200-day moving average price is $13.95. The company has a market cap of $367.31 million, a PE ratio of 79.08 and a beta of 2.29.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.10. The business earned $55.30 million during the quarter, compared to the consensus estimate of $50.84 million. Applied Optoelectronics had a net margin of 2.16% and a return on equity of 6.01%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. On average, analysts forecast that Applied Optoelectronics will post $0.71 earnings per share for the current year.
In other Applied Optoelectronics news, CFO Stefan J. Murry sold 3,660 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $19.05, for a total value of $69,723.00. Following the completion of the transaction, the chief financial officer now owns 35,093 shares in the company, valued at $668,521.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.19% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of AAOI. American International Group Inc. increased its position in Applied Optoelectronics by 5.7% in the second quarter. American International Group Inc. now owns 9,496 shares of the company’s stock valued at $106,000 after buying an additional 515 shares during the period. Blue Rock Advisors LLC acquired a new position in Applied Optoelectronics during the first quarter valued at approximately $164,000. Bank of Montreal Can acquired a new position in Applied Optoelectronics during the second quarter valued at approximately $172,000. Quantitative Systematic Strategies LLC increased its position in Applied Optoelectronics by 55.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,881 shares of the company’s stock valued at $165,000 after buying an additional 5,645 shares during the period. Finally, Marshall Wace LLP increased its position in Applied Optoelectronics by 6.4% in the second quarter. Marshall Wace LLP now owns 18,354 shares of the company’s stock valued at $205,000 after buying an additional 1,098 shares during the period. Institutional investors and hedge funds own 78.60% of the company’s stock.
Applied Optoelectronics Company Profile