Applied Optoelectronics, Inc. (NASDAQ:AAOI) Receives $29.20 Consensus Price Target from Brokerages

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) has been given a consensus rating of "Hold" by the five ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $29.20.

AAOI has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the company a "buy" rating in a research note on Friday, December 13th. B. Riley lowered shares of Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price target for the company. in a research report on Tuesday, December 10th. StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a research report on Friday, October 25th. Northland Securities reissued an "outperform" rating and set a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday. Finally, Raymond James lifted their price target on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday.

Insider Buying and Selling at Applied Optoelectronics

In other news, Director Min-Chu (Mike) Chen sold 9,790 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $40.00, for a total value of $391,600.00. Following the sale, the director now directly owns 165,054 shares of the company's stock, valued at $6,602,160. The trade was a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard B. Black sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the transaction, the director now directly owns 167,813 shares of the company's stock, valued at approximately $5,918,764.51. This trade represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,769 shares of company stock valued at $3,165,737 in the last 90 days. Insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of institutional investors have recently modified their holdings of AAOI. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company's stock valued at $77,000 after acquiring an additional 6,787 shares in the last quarter. Pingora Partners LLC purchased a new stake in Applied Optoelectronics during the 3rd quarter valued at $82,000. FMR LLC raised its stake 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 worth $88,000 after purchasing an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Applied Optoelectronics in the second quarter worth $89,000. Finally, Summit Securities Group LLC bought a new position in shares of Applied Optoelectronics during the second quarter valued at $109,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Applied Optoelectronics Stock Performance

Shares of AAOI stock traded up $5.43 during trading on Friday, hitting $37.82. The company's stock had a trading volume of 5,209,167 shares, compared to its average volume of 2,762,102. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.77 billion, a PE ratio of -18.36 and a beta of 2.36. The business has a fifty day moving average of $27.83 and a 200-day moving average of $16.69. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $44.50.

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.