Richard B. Black Sells 10,000 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) Stock

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) Director Richard B. Black sold 10,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the director now owns 167,813 shares in the company, valued at approximately $5,918,764.51. The trade was a 5.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Applied Optoelectronics Price Performance

AAOI traded up $1.86 during midday trading on Wednesday, reaching $33.97. 5,169,389 shares of the company's stock were exchanged, compared to its average volume of 2,748,017. 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 business has a 50-day simple moving average of $27.12 and a two-hundred day simple moving average of $16.34. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -16.49 and a beta of 2.37. Applied Optoelectronics, Inc. has a one year low of $6.70 and a one year high of $44.50.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AAOI shares. Northland Securities reissued an "outperform" rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday. Rosenblatt Securities increased their target price on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a "buy" rating in a research note on Friday, December 13th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research note on Friday, October 25th. Raymond James upped their price target on Applied Optoelectronics from $17.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, B. Riley lowered Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price objective on the stock. in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $26.00.

Hedge Funds Weigh In On Applied Optoelectronics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in Applied Optoelectronics in the second quarter valued at $956,000. Summit Securities Group LLC bought a new stake in shares of Applied Optoelectronics in the 2nd quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Applied Optoelectronics by 272.1% in the 2nd 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. Rhumbline Advisers acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter worth about $449,000. Finally, Acuitas Investments LLC lifted its holdings in Applied Optoelectronics by 38.4% during the 2nd quarter. Acuitas Investments LLC now owns 331,221 shares of the semiconductor company's stock valued at $2,746,000 after purchasing an additional 91,885 shares during the last quarter. Institutional investors own 61.72% of the company's stock.

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.