Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Min-Chu (Mike) Chen Sells 9,790 Shares

Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Min-Chu (Mike) Chen sold 9,790 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $40.00, for a total value of $391,600.00. Following the completion of the transaction, the director now owns 165,054 shares of the company’s stock, valued at $6,602,160. This represents a 5.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Applied Optoelectronics Stock Performance

Applied Optoelectronics stock traded up $1.00 during trading on Tuesday, reaching $41.74. The company had a trading volume of 3,119,639 shares, compared to its average volume of 2,660,126. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -21.01 and a beta of 2.36. 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’s 50-day simple moving average is $22.03 and its 200 day simple moving average is $14.34. Applied Optoelectronics, Inc. has a 52 week low of $6.70 and a 52 week high of $44.32.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Raymond James boosted their target price on Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Northland Securities increased their price objective on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. B. Riley cut their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. B. Riley Financial reiterated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.70.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Applied Optoelectronics by 29.2% in 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. AQR Capital Management LLC increased its stake in shares of Applied Optoelectronics by 90.7% in the second quarter. AQR Capital Management LLC now owns 75,981 shares of the semiconductor company’s stock worth $630,000 after purchasing an additional 36,138 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Applied Optoelectronics during the 3rd quarter valued at $1,319,000. Westfield Capital Management Co. LP purchased a new position in shares of Applied Optoelectronics during the 3rd quarter valued at $19,019,000. Finally, Bank of New York Mellon Corp bought a new position in Applied Optoelectronics in the 2nd quarter worth $956,000. Institutional investors 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.