Applied Optoelectronics Inc (NASDAQ:AAOI)’s share price traded up 12.6% on Wednesday . The stock traded as high as $15.68 and last traded at $15.60, 2,102,141 shares traded hands during mid-day trading. An increase of 142% from the average session volume of 867,974 shares. The stock had previously closed at $13.86.
Several research firms have issued reports on AAOI. JPMorgan Chase & Co. cut Applied Optoelectronics from a “neutral” rating to an “underweight” rating and set a $11.00 target price for the company. in a research note on Tuesday, October 22nd. They noted that the move was a valuation call. Zacks Investment Research lowered Applied Optoelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. BidaskClub upgraded Applied Optoelectronics from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Rosenblatt Securities raised Applied Optoelectronics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $13.00 in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.58.
The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.68 and a current ratio of 2.96. The stock has a market cap of $288.62 million, a PE ratio of 26.64 and a beta of 2.19. The stock’s 50-day moving average is $11.66 and its two-hundred day moving average is $10.55.
Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.09. Applied Optoelectronics had a negative return on equity of 8.12% and a negative net margin of 19.57%. The company had revenue of $46.08 million for the quarter, compared to analyst estimates of $47.75 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The firm’s quarterly revenue was down 18.3% compared to the same quarter last year. Analysts forecast that Applied Optoelectronics Inc will post -1.46 EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake in Applied Optoelectronics by 76.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,637 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 1,141 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in Applied Optoelectronics by 37.1% during the second quarter. Meadow Creek Investment Management LLC now owns 4,848 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 1,312 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Applied Optoelectronics by 27.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 6,430 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,375 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Applied Optoelectronics by 127.1% during the third quarter. State of Alaska Department of Revenue now owns 14,572 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 8,155 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of Applied Optoelectronics by 10.4% during the second quarter. LPL Financial LLC now owns 16,695 shares of the semiconductor company’s stock worth $172,000 after purchasing an additional 1,577 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.
About Applied Optoelectronics (NASDAQ:AAOI)
Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.
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