StockNews.com Upgrades Applied Optoelectronics (NASDAQ:AAOI) to “Sell”

Applied Optoelectronics (NASDAQ:AAOI) was upgraded by analysts at StockNews.com to a “sell” rating in a research note issued to investors on Friday.

Several other research analysts have also recently issued reports on AAOI. Northland Securities reiterated an “outperform” rating and set a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. B. Riley cut shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a research report on Tuesday, December 10th. Rosenblatt Securities lifted their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Raymond James upped their target price on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Stock Up 6.5 %

Shares of AAOI traded up $2.30 during midday trading on Friday, reaching $37.90. 2,404,191 shares of the stock were exchanged, compared to its average volume of 2,946,146. The company has a market capitalization of $1.78 billion, a P/E ratio of -18.40 and a beta of 2.39. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $44.50. The company’s 50 day moving average is $31.79 and its two-hundred day moving average is $18.56.

Insider Activity

In other news, Director William H. Yeh sold 10,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the sale, the director now owns 223,538 shares in the company, valued at approximately $9,630,017.04. This represents a 4.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business’s stock in a transaction 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 transaction, the insider now owns 195,572 shares in the company, valued at approximately $5,935,610.20. This trade represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,769 shares of company stock worth $3,015,537. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Applied Optoelectronics by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock worth $210,000 after purchasing an additional 483 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Applied Optoelectronics by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock worth $1,557,000 after buying an additional 3,081 shares during the period. Truvestments Capital LLC grew its holdings in shares of Applied Optoelectronics by 24.3% during the third quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 3,097 shares during the last quarter. Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics in the 3rd quarter valued at $82,000. Finally, FMR LLC raised its stake in Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 5,956 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.