Applied Optoelectronics’ (AAOI) Outperform Rating Reiterated at Northland Securities

Northland Securities reaffirmed their outperform rating on shares of Applied Optoelectronics (NASDAQ:AAOI) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $40.00 price objective on the semiconductor company’s stock, up from their prior price objective of $25.00.

Several other brokerages have also weighed in on AAOI. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Rosenblatt Securities upped their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, December 13th. B. Riley cut Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a report on Tuesday, December 10th. Finally, Raymond James upped 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. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.00.

Applied Optoelectronics Stock Performance

NASDAQ:AAOI traded down $1.03 on Wednesday, hitting $32.94. The company’s stock had a trading volume of 2,312,935 shares, compared to its average volume of 2,745,253. Applied Optoelectronics has a one year low of $6.70 and a one year high of $44.50. The stock has a fifty day moving average of $27.12 and a two-hundred day moving average of $16.34. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.48 billion, a P/E ratio of -15.99 and a beta of 2.37.

Insider Activity

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 shares were 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. The trade was a 9.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Yeh sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.08, for a total value of $430,800.00. Following the sale, the director now 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. Over the last ninety days, insiders sold 96,769 shares of company stock worth $3,165,737. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 6,787 shares in the last quarter. Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics during the third quarter worth $82,000. FMR LLC lifted its stake in shares of Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter valued at $89,000. Finally, Summit Securities Group LLC bought a new stake in Applied Optoelectronics during the 2nd quarter worth $109,000. 61.72% of the stock is currently owned by institutional investors.

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.