Applied Optoelectronics (NASDAQ:AAOI) Given New $23.00 Price Target at Raymond James

Applied Optoelectronics (NASDAQ:AAOI) had its price target hoisted by Raymond James from $17.00 to $23.00 in a report released on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the semiconductor company’s stock.

AAOI has been the topic of a number of other reports. B. Riley cut their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Applied Optoelectronics in a report on Wednesday, October 9th. B. Riley Financial reiterated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a report on Thursday, August 8th. Finally, StockNews.com upgraded 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. According to MarketBeat, Applied Optoelectronics has an average rating of “Hold” and an average price target of $18.70.

Applied Optoelectronics Stock Performance

Applied Optoelectronics stock opened at $28.29 on Friday. The stock’s 50-day moving average is $15.93 and its 200-day moving average is $11.92. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -13.73 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. Applied Optoelectronics has a 12 month low of $6.70 and a 12 month high of $28.70.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the completion of the sale, the insider now owns 132,921 shares in the company, valued at $1,996,473.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds have recently bought and sold shares of AAOI. Shellback Capital LP acquired a new position in shares of Applied Optoelectronics in the 2nd quarter worth approximately $8,617,000. Royce & Associates LP grew its position in shares of Applied Optoelectronics by 47.7% in the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock worth $22,847,000 after acquiring an additional 515,489 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Applied Optoelectronics by 29.2% in the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after acquiring an additional 442,277 shares in the last quarter. Caxton Associates LP grew its position in shares of Applied Optoelectronics by 550.5% in the 2nd quarter. Caxton Associates LP now owns 411,054 shares of the semiconductor company’s stock worth $3,408,000 after acquiring an additional 347,867 shares in the last quarter. Finally, Whale Rock Capital Management LLC grew its position in shares of Applied Optoelectronics by 30.0% in the 1st quarter. Whale Rock Capital Management LLC now owns 1,333,957 shares of the semiconductor company’s stock worth $18,489,000 after acquiring an additional 308,172 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

About Applied Optoelectronics

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.