Analysts Set Applied Optoelectronics, Inc. (NASDAQ:AAOI) PT at $18.70

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $18.70.

A number of equities research analysts have recently weighed in on the stock. Northland Securities lifted their target price 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 research report on Friday, October 25th. B. Riley dropped their price target on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Rosenblatt Securities increased their price objective on Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, B. Riley Financial reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th.

Insider Buying and Selling

In other news, Director Min-Chu (Mike) Chen sold 9,790 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $40.00, for a total transaction of $391,600.00. Following the sale, the director now owns 165,054 shares of the company’s stock, valued at $6,602,160. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 132,921 shares of the company’s stock, valued at $1,996,473.42. The trade was a 7.00 % 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 worth $2,813,037 in the last quarter. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Applied Optoelectronics by 29.2% in the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after acquiring an additional 442,277 shares during the period. CANADA LIFE ASSURANCE Co purchased a new position in Applied Optoelectronics in the first quarter worth about $46,000. Janus Henderson Group PLC bought a new stake in shares of Applied Optoelectronics during the 1st quarter valued at about $386,000. California State Teachers Retirement System bought a new stake in shares of Applied Optoelectronics during the 1st quarter valued at about $511,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Applied Optoelectronics during the 2nd quarter valued at about $956,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Applied Optoelectronics Trading Up 2.5 %

NASDAQ:AAOI opened at $41.74 on Wednesday. The firm’s fifty day simple moving average is $22.03 and its 200 day simple moving average is $14.34. Applied Optoelectronics has a twelve month low of $6.70 and a twelve month high of $44.31. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

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.