Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Richard B. Black Sells 8,162 Shares

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) Director Richard B. Black sold 8,162 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $37.18, for a total transaction of $303,463.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Applied Optoelectronics Price Performance

NASDAQ:AAOI traded up $4.80 on Friday, reaching $41.22. 3,852,717 shares of the company's stock traded hands, compared to its average volume of 2,653,383. The firm has a market cap of $1.86 billion, a PE ratio of -20.01 and a beta of 1.96. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $20.95 and a 200-day simple moving average of $13.87. Applied Optoelectronics, Inc. has a 12 month low of $6.70 and a 12 month high of $43.05.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co purchased a new stake in Applied Optoelectronics in the 1st quarter worth $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Applied Optoelectronics by 272.1% in the second 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 during the last quarter. Pingora Partners LLC purchased a new stake in shares of Applied Optoelectronics in the third quarter worth about $82,000. FMR LLC boosted its stake in Applied Optoelectronics by 3,290.6% during the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company's stock valued at $88,000 after buying an additional 5,956 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics during the 2nd quarter valued at approximately $89,000. Institutional investors own 61.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Rosenblatt Securities upped their price objective on Applied Optoelectronics from $20.00 to $27.50 and gave the company a "buy" rating in a research report on Friday, November 8th. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a research note on Friday, October 25th. Raymond James boosted their target price on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. B. Riley Financial reiterated a "neutral" rating and issued a $9.00 price target on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Finally, Northland Securities boosted their price objective on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $18.70.

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.

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