Applied Optoelectronics Inc (NASDAQ:AAOI) shares were up 12.6% during mid-day trading on Wednesday . The company traded as high as $15.68 and last traded at $15.60, approximately 2,102,141 shares were traded during trading. An increase of 142% from the average daily volume of 867,974 shares. The stock had previously closed at $13.86.

AAOI has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut shares of Applied Optoelectronics from a “neutral” rating to an “underweight” rating and set a $11.00 target price on the stock. in a report on Tuesday, October 22nd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Rosenblatt Securities upgraded shares of Applied Optoelectronics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $10.00 to $13.00 in a research note on Tuesday, November 5th. Finally, BidaskClub raised shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $11.58.

The company has a 50-day moving average of $11.66 and a 200-day moving average of $10.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.68 and a current ratio of 2.96. The stock has a market cap of $288.62 million, a price-to-earnings ratio of 26.64 and a beta of 2.19.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.09. Applied Optoelectronics had a negative return on equity of 8.12% and a negative net margin of 19.57%. The company had revenue of $46.08 million during the quarter, compared to analysts’ expectations of $47.75 million. During the same period last year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was down 18.3% on a year-over-year basis. As a group, equities research analysts forecast that Applied Optoelectronics Inc will post -1.46 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in AAOI. Tower Research Capital LLC TRC lifted its holdings in shares of Applied Optoelectronics by 76.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,637 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 1,141 shares during the period. Meadow Creek Investment Management LLC grew its position in Applied Optoelectronics by 37.1% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,848 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 1,312 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Applied Optoelectronics by 27.2% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 6,430 shares of the semiconductor company’s stock valued at $72,000 after buying an additional 1,375 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Applied Optoelectronics by 127.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,572 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 8,155 shares during the period. Finally, LPL Financial LLC increased its stake in Applied Optoelectronics by 10.4% in the 2nd quarter. LPL Financial LLC now owns 16,695 shares of the semiconductor company’s stock valued at $172,000 after buying an additional 1,577 shares during the period. Institutional investors and hedge funds own 61.67% of the company’s stock.

About Applied Optoelectronics (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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