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

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

A number of other analysts have also recently commented on the company. Northland Securities reiterated an “outperform” rating and set a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Rosenblatt Securities upped their price target on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, December 13th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Finally, B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Applied Optoelectronics currently has a consensus rating of “Hold” and a consensus price target of $29.20.

Applied Optoelectronics Trading Up 16.8 %

NASDAQ:AAOI opened at $37.82 on Friday. The company has a 50 day simple moving average of $27.83 and a two-hundred day simple moving average of $16.69. The company has a market cap of $1.77 billion, a PE ratio of -18.36 and a beta of 2.36. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. Applied Optoelectronics has a 12 month low of $6.70 and a 12 month high of $44.50.

Insider Activity

In related news, insider Hung-Lun (Fred) Chang sold 20,323 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.35, for a total value of $616,803.05. Following the completion of the transaction, the insider now owns 195,572 shares of the company’s stock, valued at approximately $5,935,610.20. This represents a 9.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David C. Kuo sold 10,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the completion of the sale, the insider now owns 118,122 shares of the company’s stock, valued at $3,181,025.46. The trade was a 7.81 % 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 ninety days. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

A number of hedge funds have recently made changes to their positions in the business. Pingora Partners LLC purchased a new position in shares of Applied Optoelectronics in the third quarter worth $82,000. FMR LLC increased its holdings in 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 acquiring an additional 5,956 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in 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 in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Applied Optoelectronics in the 2nd quarter worth $89,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Applied Optoelectronics during the 3rd quarter valued at about $186,000. Institutional investors 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.