Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up to $10.56

Applied Optoelectronics Inc (NASDAQ:AAOI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $9.87, but opened at $10.56. Applied Optoelectronics shares last traded at $10.43, with a volume of 29,606 shares traded.

Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Applied Optoelectronics from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. BidaskClub cut Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 12th. Piper Jaffray Companies reduced their target price on Applied Optoelectronics from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Rosenblatt Securities raised Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $10.00 target price on the stock in a research note on Thursday. Finally, TheStreet cut Applied Optoelectronics from a “c-” rating to a “d+” rating in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Applied Optoelectronics has an average rating of “Hold” and an average target price of $20.50.

The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $9.32.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Wednesday, May 8th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.05). Applied Optoelectronics had a negative net margin of 5.78% and a negative return on equity of 0.36%. The business had revenue of $52.72 million for the quarter, compared to analysts’ expectations of $52.86 million. During the same period last year, the firm posted $0.28 earnings per share. Applied Optoelectronics’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, analysts anticipate that Applied Optoelectronics Inc will post -1.52 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc bought a new stake in shares of Applied Optoelectronics during the fourth quarter valued at approximately $29,000. Neuburgh Advisers LLC boosted its position in shares of Applied Optoelectronics by 41.2% during the fourth quarter. Neuburgh Advisers LLC now owns 3,542 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 1,034 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Applied Optoelectronics by 24.4% during the fourth quarter. Advisor Group Inc. now owns 4,097 shares of the semiconductor company’s stock valued at $63,000 after purchasing an additional 803 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Applied Optoelectronics during the first quarter valued at approximately $72,000. Finally, Flinton Capital Management LLC boosted its position in shares of Applied Optoelectronics by 41.2% during the fourth quarter. Flinton Capital Management LLC now owns 5,474 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 1,598 shares in the last quarter. Institutional investors own 63.25% of the company’s stock.

Applied Optoelectronics Company Profile (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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