Applied Optoelectronics Inc. (NASDAQ:AAOI)‘s stock had its “overweight” rating reaffirmed by Piper Jaffray Cos. in a research report issued to clients and investors on Friday. They currently have a $27.00 price objective on the stock, up from their previous price objective of $24.00. Piper Jaffray Cos.’s price objective would indicate a potential upside of 18.84% from the stock’s current price.
Other analysts have also issued reports about the stock. Roth Capital reaffirmed a “buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of Applied Optoelectronics from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Thursday, September 8th. TheStreet raised shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Craig Hallum increased their price target on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. Seven equities research analysts have rated the stock with a buy rating, Applied Optoelectronics has a consensus rating of “Buy” and an average price target of $24.00.
Applied Optoelectronics (NASDAQ:AAOI) traded down 1.43% during trading on Friday, hitting $22.72. 162,970 shares of the company were exchanged. Applied Optoelectronics has a 1-year low of $8.08 and a 1-year high of $24.18. The stock has a market capitalization of $389.42 million, a PE ratio of 83.84 and a beta of 2.29. The firm’s 50 day moving average price is $19.20 and its 200-day moving average price is $13.78.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.10. Applied Optoelectronics had a net margin of 2.16% and a return on equity of 6.01%. The company earned $55.30 million during the quarter, compared to analyst estimates of $50.84 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts predict that Applied Optoelectronics will post $0.71 EPS for the current year.
In related news, CFO Stefan J. Murry sold 3,660 shares of the stock in a transaction that occurred 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 directly owns 35,093 shares of the company’s stock, valued at approximately $668,521.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.19% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in AAOI. AQR Capital Management LLC raised its position in shares of Applied Optoelectronics by 23.2% in the second quarter. AQR Capital Management LLC now owns 41,529 shares of the company’s stock valued at $463,000 after buying an additional 7,832 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $215,000. Guggenheim Capital LLC increased its position in shares of Applied Optoelectronics by 69.5% in the second quarter. Guggenheim Capital LLC now owns 105,586 shares of the company’s stock valued at $1,177,000 after buying an additional 43,281 shares during the period. Marshall Wace LLP increased its position in shares of 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. Finally, S Squared Technology LLC acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $1,967,000. 78.60% of the stock is owned by hedge funds and other institutional investors.
Applied Optoelectronics Company Profile