News

Jun 02, 2023

Applied Optoelectronics (NASDAQ:AAOI) Upgraded at StockNews.com

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a report released on Monday. A number of other equities research

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a report released on Monday.

A number of other equities research analysts also recently issued reports on the company. Northland Securities increased their price objective on Applied Optoelectronics from $10.00 to $12.50 in a research report on Friday. B. Riley upgraded Applied Optoelectronics from a "neutral" rating to a "buy" rating and raised their price target for the company from $2.50 to $11.50 in a research report on Friday. Finally, B. Riley Financial upgraded Applied Optoelectronics to a "buy" rating and raised their price target for the company from $2.50 to $11.50 in a research report on Friday.

View Our Latest Analysis on Applied Optoelectronics

Shares of AAOI stock opened at $12.38 on Monday. Applied Optoelectronics has a 52-week low of $1.60 and a 52-week high of $13.17. The company has a market capitalization of $393.44 million, a PE ratio of -5.16 and a beta of 1.86. The business's fifty day moving average is $6.04 and its 200 day moving average is $3.60.

Several large investors have recently modified their holdings of the stock. Royce & Associates LP increased its holdings in shares of Applied Optoelectronics by 43.7% in the second quarter. Royce & Associates LP now owns 1,002,188 shares of the semiconductor company's stock worth $5,973,000 after buying an additional 304,978 shares during the period. Monaco Asset Management SAM increased its holdings in shares of Applied Optoelectronics by 41.6% in the fourth quarter. Monaco Asset Management SAM now owns 523,867 shares of the semiconductor company's stock worth $990,000 after buying an additional 153,867 shares during the period. Millennium Management LLC increased its holdings in shares of Applied Optoelectronics by 79.0% in the second quarter. Millennium Management LLC now owns 403,692 shares of the semiconductor company's stock worth $626,000 after buying an additional 178,182 shares during the period. Geode Capital Management LLC increased its holdings in shares of Applied Optoelectronics by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 332,193 shares of the semiconductor company's stock worth $627,000 after buying an additional 7,955 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Applied Optoelectronics by 646.4% in the second quarter. Renaissance Technologies LLC now owns 308,279 shares of the semiconductor company's stock worth $478,000 after buying an additional 266,979 shares during the period. Hedge funds and other institutional investors own 30.07% of the company's stock.

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, subassemblies, 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 telecom equipment manufacturers, and internet service providers through its direct and indirect sales channels.

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