Applied Optoelectronics (NASDAQ:AAOI) Price Target Raised to $44.00 at Rosenblatt Securities

Applied Optoelectronics (NASDAQ:AAOI) had its price target upped by Rosenblatt Securities from $27.50 to $44.00 in a research note published on Friday, MarketBeat.com reports. They currently have a buy rating on the semiconductor company’s stock.

Several other brokerages also recently weighed in on AAOI. Northland Securities lifted their target price on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Raymond James lifted their price objective on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Finally, B. Riley cut 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 note on Tuesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.00.

Applied Optoelectronics Price Performance

Shares of AAOI opened at $36.43 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $44.50. The firm has a 50-day simple moving average of $26.04 and a 200-day simple moving average of $15.85. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -17.68 and a beta of 2.37.

Insider Transactions at Applied Optoelectronics

In other news, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total transaction of $616,803.05. Following the sale, the insider now owns 195,572 shares of the company’s stock, valued at $5,935,610.20. The trade was a 9.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Yeh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total value of $430,800.00. Following the completion of the transaction, the director now directly owns 223,538 shares of the company’s stock, valued at $9,630,017.04. The trade was a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,769 shares of company stock valued at $2,813,037 in the last ninety days. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Applied Optoelectronics

Large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Applied Optoelectronics by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock worth $210,000 after buying an additional 483 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Applied Optoelectronics by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock valued at $1,557,000 after purchasing an additional 3,081 shares during the last quarter. Truvestments Capital LLC increased its stake in shares of Applied Optoelectronics by 24.3% during the 3rd quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 3,097 shares in the last quarter. Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics during the 3rd quarter worth approximately $82,000. Finally, FMR LLC raised its position in shares of Applied Optoelectronics by 3,290.6% during the 3rd 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. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.