Applied Optoelectronics (NASDAQ:AAOI) Given “Outperform” Rating at Northland Securities

Applied Optoelectronics (NASDAQ:AAOI)‘s stock had its “outperform” rating reaffirmed by research analysts at Northland Securities in a report issued on Wednesday,Benzinga reports. They currently have a $40.00 price objective on the semiconductor company’s stock, up from their previous price objective of $25.00. Northland Securities’ target price suggests a potential upside of 24.57% from the stock’s current price.

Several other analysts also recently weighed in on AAOI. Raymond James lifted their price objective on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Rosenblatt Securities raised their price target on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, B. Riley cut Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Applied Optoelectronics presently has a consensus rating of “Hold” and a consensus target price of $26.00.

Applied Optoelectronics Stock Down 8.5 %

AAOI stock opened at $32.11 on Wednesday. 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 $1.45 billion, a P/E ratio of -15.59 and a beta of 2.37. The business has a 50-day moving average of $26.76 and a 200-day moving average of $16.22. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $44.50.

Insider Buying and Selling

In related news, Director William H. Yeh sold 10,000 shares of Applied Optoelectronics stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total transaction of $430,800.00. Following the transaction, the director now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Min-Chu (Mike) Chen sold 9,790 shares of Applied Optoelectronics 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 owns 165,054 shares of the company’s stock, valued at $6,602,160. This represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,769 shares of company stock worth $2,813,037 in the last ninety days. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP bought a new position in shares of Applied Optoelectronics in the third quarter valued at $19,019,000. Whale Rock Capital Management LLC purchased a new position in Applied Optoelectronics in the 3rd quarter worth about $16,145,000. Shellback Capital LP purchased a new position in shares of Applied Optoelectronics during the 2nd quarter valued at approximately $8,617,000. Royce & Associates LP boosted its stake in shares of Applied Optoelectronics by 47.7% in the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock valued at $22,847,000 after purchasing an additional 515,489 shares during the period. Finally, JAT Capital Mgmt LP acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at approximately $6,470,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.