Insider Selling: Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Sells $303,463.16 in Stock

Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Richard B. Black sold 8,162 shares of Applied Optoelectronics stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $37.18, for a total value of $303,463.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Applied Optoelectronics Price Performance

AAOI stock opened at $41.22 on Monday. The stock has a 50-day simple moving average of $21.50 and a 200-day simple moving average of $14.11. The firm has a market cap of $1.86 billion, a P/E ratio of -20.01 and a beta of 1.96. 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, Inc. has a 1 year low of $6.70 and a 1 year high of $43.05.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Applied Optoelectronics by 29.2% during the 1st 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 in the last quarter. CANADA LIFE ASSURANCE Co bought a new position in shares of Applied Optoelectronics during the first quarter worth about $46,000. Janus Henderson Group PLC acquired a new position in Applied Optoelectronics in the first quarter worth about $386,000. California State Teachers Retirement System bought a new stake in Applied Optoelectronics in the first quarter valued at about $511,000. Finally, Bank of New York Mellon Corp acquired a new stake in Applied Optoelectronics during the second quarter valued at approximately $956,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Northland Securities increased their price target on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Raymond James lifted their target price on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. B. Riley dropped their price target on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Rosenblatt Securities raised 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 reiterated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.70.

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.