Applied Optoelectronics (NASDAQ:AAOI) Upgraded by StockNews.com to “Sell”

StockNews.com upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) to a sell rating in a research note released on Friday morning.

Other research analysts have also issued research reports about the company. B. Riley Financial reissued a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. B. Riley lowered their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Applied Optoelectronics in a report on Wednesday, October 9th. Finally, Raymond James raised Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.75.

Applied Optoelectronics Stock Down 0.1 %

AAOI opened at $17.44 on Friday. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $24.75. The business has a 50-day moving average of $13.97 and a 200-day moving average of $11.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The company has a market capitalization of $678.56 million, a PE ratio of -9.58 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The company had revenue of $43.27 million during the quarter, compared to the consensus estimate of $44.14 million. During the same period last year, the business earned ($0.31) EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that Applied Optoelectronics will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total value of $150,200.00. Following the sale, the insider now owns 132,921 shares of the company’s stock, valued at $1,996,473.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

Several institutional investors have recently modified their holdings of AAOI. Shellback Capital LP acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter worth approximately $8,617,000. Goldman Sachs Group Inc. grew its holdings in shares of Applied Optoelectronics by 9,687.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock worth $16,498,000 after purchasing an additional 845,223 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Applied Optoelectronics by 29.2% during the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after purchasing an additional 442,277 shares in the last quarter. Caxton Associates LP grew its holdings in shares of Applied Optoelectronics by 550.5% during the 2nd quarter. Caxton Associates LP now owns 411,054 shares of the semiconductor company’s stock worth $3,408,000 after purchasing an additional 347,867 shares in the last quarter. Finally, Whale Rock Capital Management LLC grew its holdings in shares of Applied Optoelectronics by 30.0% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,333,957 shares of the semiconductor company’s stock worth $18,489,000 after purchasing an additional 308,172 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

About Applied Optoelectronics

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.