Applied Optoelectronics (NASDAQ:AAOI) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) had its target price upped by Rosenblatt Securities from $27.50 to $44.00 in a research note issued on Friday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Rosenblatt Securities' target price would indicate a potential upside of 20.78% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on the stock. B. Riley cut shares of Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 target price on the stock. in a report on Tuesday. Northland Securities boosted their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Raymond James raised their target price on Applied Optoelectronics from $17.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $23.00.

Applied Optoelectronics Stock Performance

AAOI traded up $3.43 during trading on Friday, hitting $36.43. 4,176,839 shares of the company traded hands, compared to its average volume of 2,738,389. The firm has a market cap of $1.64 billion, a P/E ratio of -17.69 and a beta of 2.37. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. Applied Optoelectronics has a one year low of $6.70 and a one year high of $44.50. The stock's fifty day moving average is $25.62 and its 200 day moving average is $15.68.

Insider Buying and Selling

In related news, CFO Stefan J. Murry sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 owns 216,129 shares in the company, valued at $6,821,031.24. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David C. Kuo sold 10,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $26.93, for a total transaction of $269,300.00. Following the transaction, the insider now owns 118,122 shares in the company, valued at $3,181,025.46. The trade was a 7.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,769 shares of company stock worth $2,813,037. Insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds have recently made changes to their positions in the business. Royce & Associates LP boosted its holdings in Applied Optoelectronics by 47.7% during the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company's stock valued at $22,847,000 after acquiring an additional 515,489 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Applied Optoelectronics during the third quarter valued at approximately $19,019,000. Whale Rock Capital Management LLC bought a new position in shares of Applied Optoelectronics in the third quarter worth approximately $16,145,000. Shellback Capital LP bought a new position in shares of Applied Optoelectronics in the second quarter worth approximately $8,617,000. Finally, Geode Capital Management LLC increased its stake in shares of Applied Optoelectronics by 7.1% in the third quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company's stock worth $13,018,000 after buying an additional 60,241 shares during the period. 61.72% of the stock is currently owned by institutional investors.

Applied Optoelectronics Company Profile

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.