Rosenblatt Securities Issues Positive Forecast for Applied Optoelectronics (NASDAQ:AAOI) Stock Price

Applied Optoelectronics (NASDAQ:AAOI) had its target price upped by Rosenblatt Securities from $27.50 to $44.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 20.71% from the stock’s previous close.

AAOI has been the subject of several other reports. Northland Securities lifted their price target on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. 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. Finally, Raymond James increased their target price on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.00.

Applied Optoelectronics Trading Up 10.5 %

Shares of AAOI stock opened at $36.45 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $25.62 and a 200 day moving average price of $15.68. Applied Optoelectronics has a 12-month low of $6.70 and a 12-month high of $44.50. The company has a market capitalization of $1.64 billion, a P/E ratio of -17.28 and a beta of 2.37.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, insider Hung-Lun (Fred) Chang sold 20,323 shares of the 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total transaction of $150,200.00. Following the completion of the sale, the insider now directly owns 132,921 shares in the company, valued at $1,996,473.42. This represents a 7.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,769 shares of company stock worth $2,813,037. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 purchasing an additional 6,787 shares during the period. Pingora Partners LLC purchased a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at $82,000. FMR LLC raised its holdings 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 buying an additional 5,956 shares during the period. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics during the 2nd quarter worth about $89,000. Finally, Summit Securities Group LLC purchased a new position in Applied Optoelectronics during the 2nd quarter valued at about $109,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.