B. Riley Cuts Applied Optoelectronics (NASDAQ:AAOI) Price Target to $9.00

Applied Optoelectronics (NASDAQ:AAOI) had its target price dropped by investment analysts at B. Riley from $12.00 to $9.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. B. Riley’s price target would suggest a potential upside of 25.52% from the stock’s current price.

Other analysts also recently issued research reports about the company. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Monday, July 29th. B. Riley Financial decreased their target price on Applied Optoelectronics from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Finally, Rosenblatt Securities decreased their target price on Applied Optoelectronics from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.25.

Applied Optoelectronics Price Performance

AAOI traded down $0.12 during trading on Wednesday, reaching $7.17. 2,457,529 shares of the stock were exchanged, compared to its average volume of 2,448,553. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.79 and a quick ratio of 1.06. Applied Optoelectronics has a 1 year low of $6.66 and a 1 year high of $24.75. The business’s 50 day moving average price is $9.36 and its two-hundred day moving average price is $12.52. The company has a market capitalization of $278.97 million, a price-to-earnings ratio of -4.05 and a beta of 1.97.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.01. The firm had revenue of $43.27 million for the quarter, compared to the consensus estimate of $44.14 million. Applied Optoelectronics had a negative return on equity of 16.30% and a negative net margin of 30.65%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.31) earnings per share. As a group, equities research analysts anticipate that Applied Optoelectronics will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Applied Optoelectronics

Institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co acquired a new position in shares of Applied Optoelectronics in the 1st quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 6,787 shares during the period. Summit Securities Group LLC acquired a new position in Applied Optoelectronics in the 2nd quarter valued at $109,000. Truvestments Capital LLC acquired a new position in Applied Optoelectronics in the 1st quarter valued at $161,000. Finally, Headlands Technologies LLC acquired a new position in Applied Optoelectronics in the 4th quarter valued at $191,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.