Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $32.11, but opened at $33.06. Applied Optoelectronics shares last traded at $34.19, with a volume of 736,653 shares changing hands.
Analysts Set New Price Targets
AAOI has been the topic of several analyst reports. Rosenblatt Securities increased their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a "buy" rating in a report on Friday, December 13th. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a research note on Friday, October 25th. B. Riley lowered 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, December 10th. Northland Securities reaffirmed an "outperform" rating and set a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday. Finally, Raymond James increased their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $26.00.
Read Our Latest Research Report on AAOI
Applied Optoelectronics Trading Up 5.8 %
The business's 50 day simple moving average is $26.76 and its two-hundred day simple moving average is $16.22. The stock has a market cap of $1.53 billion, a P/E ratio of -16.49 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.
Insider Activity at Applied Optoelectronics
In related news, insider Hung-Lun (Fred) Chang sold 20,323 shares of Applied Optoelectronics stock in a transaction that occurred 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 sale, the insider now directly owns 195,572 shares in the company, valued at $5,935,610.20. This trade represents a 9.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stefan J. Murry sold 5,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total transaction of $157,800.00. Following the transaction, the chief financial officer now directly owns 216,129 shares of the company's stock, valued at $6,821,031.24. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,769 shares of company stock valued at $3,165,737 in the last 90 days. 5.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pingora Partners LLC bought a new position in shares of Applied Optoelectronics during the third quarter worth about $82,000. FMR LLC boosted its stake in shares of Applied Optoelectronics by 3,290.6% in the 3rd 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. 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 buying an additional 6,787 shares during the period. Point72 Hong Kong Ltd bought a new position in Applied Optoelectronics during the second quarter worth $89,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Applied Optoelectronics during the third quarter valued at $186,000. 61.72% of the stock is owned by institutional investors and hedge funds.
About Applied Optoelectronics
(
Get Free Report)
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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