Insider Selling: Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Sells 13,494 Shares of Stock

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) Director Elizabeth G. Loboa sold 13,494 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $36.54, for a total transaction of $493,070.76. Following the completion of the sale, the director now owns 124,500 shares of the company's stock, valued at approximately $4,549,230. This trade represents a 9.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI traded up $2.49 during mid-day trading on Friday, hitting $37.99. 4,782,305 shares of the stock traded hands, compared to its average volume of 2,641,013. Applied Optoelectronics, Inc. has a twelve month low of $6.70 and a twelve month high of $38.94. The firm has a 50 day simple moving average of $18.61 and a two-hundred day simple moving average of $12.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The company has a market cap of $1.71 billion, a PE ratio of -18.38 and a beta of 1.96.

Hedge Funds Weigh In On Applied Optoelectronics

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in shares of Applied Optoelectronics during the third quarter valued at approximately $353,000. Barclays PLC boosted its holdings in Applied Optoelectronics by 37.4% during the third quarter. Barclays PLC now owns 56,920 shares of the semiconductor company's stock worth $815,000 after purchasing an additional 15,507 shares during the last quarter. Geode Capital Management LLC raised its stake in Applied Optoelectronics by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company's stock valued at $13,018,000 after acquiring an additional 60,241 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Applied Optoelectronics during the third quarter worth about $340,000. Finally, XTX Topco Ltd purchased a new position in Applied Optoelectronics in the 3rd quarter valued at approximately $1,109,000. 61.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on AAOI shares. B. Riley dropped their price target on Applied Optoelectronics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Rosenblatt Securities boosted their price objective on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the stock a "buy" rating in a report on Friday, November 8th. B. Riley Financial reiterated a "neutral" rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Northland Securities upped their price target on Applied Optoelectronics from $18.00 to $25.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $18.70.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.