Raymond James Forecasts Strong Price Appreciation for Applied Optoelectronics (NASDAQ:AAOI) Stock

Applied Optoelectronics (NASDAQ:AAOI) had its price objective raised by Raymond James from $17.00 to $23.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Several other brokerages also recently issued reports on AAOI. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price target on shares of Applied Optoelectronics in a report on Wednesday, October 9th. B. Riley Financial restated a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. B. Riley reduced their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.70.

Applied Optoelectronics Trading Up 55.1 %

Shares of AAOI stock opened at $27.76 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $27.81. The firm’s 50 day moving average price is $15.59 and its two-hundred day moving average price is $11.80. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -14.53 and a beta of 1.96.

Insider Transactions at Applied Optoelectronics

In related news, insider David C. Kuo sold 10,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total transaction of $150,200.00. Following the sale, the insider now owns 132,921 shares in the company, valued at $1,996,473.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AAOI. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Applied Optoelectronics in the first quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after buying an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics in the second quarter worth approximately $89,000. Truvestments Capital LLC bought a new position in shares of Applied Optoelectronics in the first quarter valued at $161,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Applied Optoelectronics during the 3rd quarter valued at $186,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.