Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) had its price objective increased by equities researchers at Raymond James from $17.00 to $39.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has an "outperform" rating on the semiconductor company's stock. Raymond James' target price points to a potential upside of 3.12% from the company's previous close.
A number of other equities research analysts have also commented on AAOI. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research report on Friday, October 25th. B. Riley cut shares of Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price objective for the company. in a research note on Tuesday, December 10th. Rosenblatt Securities increased their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, Northland Securities reissued an "outperform" rating and set a $40.00 target price (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $29.20.
View Our Latest Research Report on AAOI
Applied Optoelectronics Stock Performance
Shares of Applied Optoelectronics stock traded up $5.43 during midday trading on Friday, hitting $37.82. The company had a trading volume of 5,209,167 shares, compared to its average volume of 2,762,102. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -18.36 and a beta of 2.37. Applied Optoelectronics has a 12-month low of $6.70 and a 12-month high of $44.50. 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 company has a fifty day simple moving average of $27.43 and a 200 day simple moving average of $16.45.
Insider Activity
In other Applied Optoelectronics news, Director William H. Yeh sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.08, for a total transaction of $430,800.00. Following the transaction, the director now owns 223,538 shares in the company, valued at approximately $9,630,017.04. This represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stefan J. Murry sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total value of $157,800.00. Following the completion of the sale, the chief financial officer now directly owns 216,129 shares in the company, valued at approximately $6,821,031.24. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,769 shares of company stock valued at $3,165,737 in the last three months. 5.40% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Applied Optoelectronics
A number of large investors have recently added to or reduced their stakes in AAOI. Pingora Partners LLC purchased a new stake in Applied Optoelectronics during the 3rd quarter worth approximately $82,000. FMR LLC boosted 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 acquiring an additional 5,956 shares during the last quarter. 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 worth $77,000 after purchasing an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics in the 2nd quarter valued at $89,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Applied Optoelectronics in the 3rd quarter valued at $186,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.
About Applied Optoelectronics
(
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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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