Applied Optoelectronics (NASDAQ:AAOI) Price Target Raised to $44.00

Applied Optoelectronics (NASDAQ:AAOI) had its price target raised by Rosenblatt Securities from $27.50 to $44.00 in a research report sent to investors on Friday morning, MarketBeat.com reports. Rosenblatt Securities currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also recently weighed in on AAOI. B. Riley cut Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a research note on Tuesday, December 10th. Raymond James raised their price objective on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Northland Securities boosted their target price on Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.00.

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI opened at $36.43 on Friday. The stock has a market capitalization of $1.64 billion, a PE ratio of -17.68 and a beta of 2.37. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $44.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The business has a fifty day moving average price of $26.04 and a two-hundred day moving average price of $15.90.

Insider Buying and Selling

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the transaction, the insider now directly owns 132,921 shares in the company, valued at approximately $1,996,473.42. This represents a 7.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.35, for a total transaction of $616,803.05. Following the transaction, the insider now owns 195,572 shares in the company, valued at $5,935,610.20. The trade was a 9.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,769 shares of company stock valued at $2,813,037 over the last quarter. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares in the last quarter. Pingora Partners LLC bought a new stake in shares of Applied Optoelectronics in the 3rd quarter worth $82,000. FMR LLC raised its holdings in shares of Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Applied Optoelectronics during the second quarter valued at about $89,000. Finally, Summit Securities Group LLC purchased a new position in Applied Optoelectronics during the second quarter worth about $109,000. 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.