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

Applied Optoelectronics (NASDAQ:AAOI) had its price objective increased by Raymond James from $17.00 to $39.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Raymond James’ price target points to a potential upside of 3.12% from the company’s previous close.

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

Applied Optoelectronics Trading Up 16.8 %

AAOI stock opened at $37.82 on Friday. The company has a market capitalization of $1.70 billion, a PE ratio of -18.36 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. Applied Optoelectronics has a one year low of $6.70 and a one year high of $44.50. The company’s 50 day moving average price is $27.83 and its two-hundred day moving average price is $16.64.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, Director Richard B. Black sold 10,000 shares of the stock in a transaction that occurred 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 owns 167,813 shares in the company, valued at approximately $5,918,764.51. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of Applied Optoelectronics stock in a transaction that occurred 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 sale, the insider now owns 195,572 shares in the company, valued at approximately $5,935,610.20. This represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,769 shares of company stock worth $3,165,737. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in shares of Applied Optoelectronics during the 2nd quarter valued at about $956,000. Summit Securities Group LLC purchased a new stake in Applied Optoelectronics in the second quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 6,787 shares in the last quarter. Rhumbline Advisers bought a new stake in Applied Optoelectronics during the 2nd quarter valued at approximately $449,000. Finally, Acuitas Investments LLC grew its holdings in shares of Applied Optoelectronics by 38.4% during the 2nd quarter. Acuitas Investments LLC now owns 331,221 shares of the semiconductor company’s stock worth $2,746,000 after acquiring an additional 91,885 shares during the period. 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.