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

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

Other equities analysts also recently issued research reports about the company. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a report on Tuesday, December 10th. Rosenblatt Securities raised their target price on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Northland Securities reiterated an “outperform” rating and set a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Applied Optoelectronics presently has an average rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Price Performance

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

Insider Transactions at Applied Optoelectronics

In related news, insider Hung-Lun (Fred) Chang sold 20,323 shares of the firm’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 completion of the transaction, the insider now owns 195,572 shares of the company’s stock, valued at $5,935,610.20. This trade represents a 9.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard B. Black sold 10,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the sale, the director now directly owns 167,813 shares in the company, valued at $5,918,764.51. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,769 shares of company stock valued at $3,165,737 in the last three months. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Institutional investors and hedge funds have recently modified their holdings of the stock. Westfield Capital Management Co. LP purchased a new position in Applied Optoelectronics in the 3rd quarter worth approximately $19,019,000. Whale Rock Capital Management LLC bought a new stake in shares of Applied Optoelectronics in the 3rd quarter worth $16,145,000. Shellback Capital LP purchased a new position in shares of Applied Optoelectronics in the second quarter worth $8,617,000. Royce & Associates LP lifted its holdings in shares of Applied Optoelectronics by 47.7% during 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 in the last quarter. Finally, JAT Capital Mgmt LP purchased a new stake in shares of Applied Optoelectronics during the third quarter valued at $6,470,000. 61.72% of the stock is currently owned by 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.