Applied Optoelectronics (NASDAQ:AAOI) Price Target Raised to $39.00

Applied Optoelectronics (NASDAQ:AAOI) had its price target hoisted by analysts at Raymond James from $17.00 to $39.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Raymond James’ price target points to a potential upside of 4.56% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Northland Securities reaffirmed 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. Rosenblatt Securities lifted their target price 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 lowered Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a research note on Tuesday, December 10th. Two investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.20.

Applied Optoelectronics Stock Performance

Shares of NASDAQ:AAOI traded up $4.91 during midday trading on Friday, hitting $37.30. The company’s stock had a trading volume of 2,081,573 shares, compared to its average volume of 2,748,180. The stock’s 50 day simple moving average is $27.43 and its 200 day simple moving average is $16.45. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $44.50. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -18.11 and a beta of 2.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61.

Insider Buying and Selling

In other news, Director Richard B. Black sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the director now owns 167,813 shares of the company’s stock, valued at approximately $5,918,764.51. This trade represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was 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 directly owns 195,572 shares in the company, valued at approximately $5,935,610.20. This represents a 9.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,769 shares of company stock valued at $3,165,737 over the last quarter. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AAOI. Virtu Financial LLC bought a new position in Applied Optoelectronics in the third quarter valued at about $353,000. Barclays PLC lifted its position in Applied Optoelectronics by 37.4% during the 3rd quarter. Barclays PLC now owns 56,920 shares of the semiconductor company’s stock valued at $815,000 after purchasing an additional 15,507 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 60,241 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Applied Optoelectronics during the 3rd quarter worth $340,000. Finally, XTX Topco Ltd bought a new stake in Applied Optoelectronics in the third quarter valued at about $1,109,000. 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.