B. Riley initiated coverage on shares of Applied Optoelectronics (NASDAQ:AAOI) in a report issued on Wednesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $38.00 price objective on the semiconductor company’s stock.

A number of other research firms have also commented on AAOI. Zacks Investment Research lowered shares of Applied Optoelectronics from a hold rating to a strong sell rating in a research report on Tuesday, October 17th. BWS Financial set a $25.00 price target on shares of Applied Optoelectronics and gave the stock a sell rating in a research report on Sunday, October 15th. Needham & Company LLC lowered their price target on shares of Applied Optoelectronics from $75.00 to $50.00 and set a strong-buy rating on the stock in a research report on Wednesday, November 8th. TheStreet lowered shares of Applied Optoelectronics from a b- rating to a c rating in a research report on Wednesday, November 15th. Finally, Craig Hallum reiterated a buy rating and set a $80.00 price objective (down from $95.00) on shares of Applied Optoelectronics in a research note on Tuesday, October 3rd. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and four have given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $57.98.

Applied Optoelectronics (NASDAQ:AAOI) traded down $0.09 during trading hours on Wednesday, reaching $35.85. 837,330 shares of the company were exchanged, compared to its average volume of 1,170,000. Applied Optoelectronics has a 1-year low of $27.82 and a 1-year high of $103.41. The company has a market capitalization of $694.85, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 0.69 and a beta of 2.88. The company has a current ratio of 2.99, a quick ratio of 2.02 and a debt-to-equity ratio of 0.12.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.23). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The business had revenue of $88.90 million for the quarter, compared to the consensus estimate of $88.53 million. During the same period in the prior year, the business posted $0.38 earnings per share. Applied Optoelectronics’s revenue was up 26.8% compared to the same quarter last year. analysts anticipate that Applied Optoelectronics will post 4.21 EPS for the current fiscal year.

In other Applied Optoelectronics news, insider Chih-Hsiang (Thompson) Lin sold 3,600 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $45.24, for a total transaction of $162,864.00. Following the sale, the insider now directly owns 522,837 shares in the company, valued at $23,653,145.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard B. Black sold 1,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $43.00, for a total transaction of $43,000.00. Following the sale, the director now owns 36,478 shares in the company, valued at $1,568,554. The disclosure for this sale can be found here. Insiders have sold 6,900 shares of company stock worth $305,184 over the last quarter. Corporate insiders own 8.19% of the company’s stock.

A number of institutional investors have recently made changes to their positions in AAOI. Steward Partners Investment Advisory LLC acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at approximately $4,342,000. Optimum Investment Advisors acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at approximately $307,000. Cetera Advisor Networks LLC acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at approximately $243,000. TT International acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at approximately $19,089,000. Finally, California Public Employees Retirement System boosted its stake in shares of Applied Optoelectronics by 9.0% in the 3rd quarter. California Public Employees Retirement System now owns 50,807 shares of the semiconductor company’s stock valued at $3,286,000 after purchasing an additional 4,207 shares in the last quarter. Hedge funds and other institutional investors own 76.67% of the company’s stock.

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About Applied Optoelectronics

Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.

Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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