Piper Jaffray Companies Lowers Applied Optoelectronics (AAOI) Price Target to $20.00

Applied Optoelectronics (NASDAQ:AAOI) had its price objective reduced by stock analysts at Piper Jaffray Companies to $20.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Piper Jaffray Companies’ price target suggests a potential downside of 7.83% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. B. Riley decreased their target price on shares of Applied Optoelectronics from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday. Rosenblatt Securities set a $15.00 price target on shares of Applied Optoelectronics and gave the company a “sell” rating in a research report on Thursday, November 1st. Zacks Investment Research cut shares of Applied Optoelectronics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. BidaskClub cut shares of Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Finally, ValuEngine cut shares of Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Seven research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.11.

AAOI opened at $21.70 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.92 and a current ratio of 3.22. Applied Optoelectronics has a 1 year low of $17.95 and a 1 year high of $50.30. The company has a market capitalization of $399.87 million, a P/E ratio of 5.13, a P/E/G ratio of 1.81 and a beta of 2.56.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Wednesday, November 7th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.25. Applied Optoelectronics had a net margin of 10.95% and a return on equity of 14.77%. The business had revenue of $56.40 million for the quarter, compared to analysts’ expectations of $56.55 million. During the same period last year, the company earned $1.08 earnings per share. The company’s quarterly revenue was down 36.6% on a year-over-year basis. As a group, equities research analysts anticipate that Applied Optoelectronics will post 0.75 EPS for the current year.

A number of hedge funds have recently made changes to their positions in AAOI. BlackRock Inc. lifted its position in Applied Optoelectronics by 10.6% during the second quarter. BlackRock Inc. now owns 2,827,109 shares of the semiconductor company’s stock valued at $126,935,000 after buying an additional 271,712 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Applied Optoelectronics by 17.9% during the second quarter. Dimensional Fund Advisors LP now owns 359,689 shares of the semiconductor company’s stock valued at $16,150,000 after buying an additional 54,595 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Applied Optoelectronics during the third quarter valued at approximately $908,000. SG Americas Securities LLC lifted its position in Applied Optoelectronics by 728.2% during the third quarter. SG Americas Securities LLC now owns 39,489 shares of the semiconductor company’s stock valued at $974,000 after buying an additional 34,721 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in Applied Optoelectronics during the second quarter valued at approximately $1,114,000. 71.64% of the stock is currently owned by hedge funds and other institutional investors.

Applied Optoelectronics Company Profile

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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Analyst Recommendations for Applied Optoelectronics (NASDAQ:AAOI)

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