Applied Optoelectronics (NASDAQ:AAOI) Stock Price Expected to Rise, Raymond James Analyst Says

Applied Optoelectronics (NASDAQ:AAOI) had its price objective lifted by Raymond James from $17.00 to $39.00 in a research report report published on Friday morning, Marketbeat reports. Raymond James currently has an outperform rating on the semiconductor company’s stock.

Several other research firms have also issued reports on AAOI. Northland Securities reaffirmed an “outperform” rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday. B. Riley downgraded Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a report on Tuesday, December 10th. Rosenblatt Securities upped their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Two 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. According to data from MarketBeat, Applied Optoelectronics has a consensus rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Trading Up 16.8 %

Shares of NASDAQ AAOI opened at $37.82 on Friday. The business has a fifty day moving average price of $27.43 and a 200 day moving average price of $16.45. Applied Optoelectronics has a 1-year low of $6.70 and a 1-year high of $44.50. 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 stock has a market capitalization of $1.70 billion, a P/E ratio of -18.36 and a beta of 2.37.

Insider Activity at Applied Optoelectronics

In other news, Director Min-Chu (Mike) Chen sold 9,790 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $40.00, for a total transaction of $391,600.00. Following the completion of the transaction, the director now directly owns 165,054 shares of the company’s stock, valued at $6,602,160. This represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William H. Yeh sold 10,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the sale, the director now owns 223,538 shares of the company’s stock, valued at $9,630,017.04. This trade represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,769 shares of company stock worth $3,165,737 over the last three months. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in 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 in the last quarter. Pingora Partners LLC purchased a new stake in shares of Applied Optoelectronics in the third quarter valued at about $82,000. FMR LLC increased its position in Applied Optoelectronics by 3,290.6% during the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Applied Optoelectronics in the 2nd quarter valued at $89,000. Finally, Summit Securities Group LLC purchased a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $109,000. 61.72% of the stock is owned by hedge funds and other 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.