Richard B. Black Sells 10,000 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) Stock

Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Richard B. Black sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the sale, the director now directly owns 167,813 shares of the company’s stock, valued at approximately $5,918,764.51. This represents a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI traded up $1.84 during midday trading on Wednesday, reaching $33.95. 4,678,030 shares of the stock traded hands, compared to its average volume of 2,743,906. The company’s 50 day moving average is $26.76 and its 200 day moving average is $16.22. Applied Optoelectronics, Inc. has a one year low of $6.70 and a one year high of $44.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market capitalization of $1.53 billion, a PE ratio of -16.48 and a beta of 2.37.

Analysts Set New Price Targets

Several brokerages have commented on AAOI. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Rosenblatt Securities upped their price target on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Raymond James upped their target price on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. B. Riley lowered Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a report on Tuesday, December 10th. Finally, Northland Securities restated an “outperform” rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

Hedge Funds Weigh In On Applied Optoelectronics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Applied Optoelectronics by 272.1% in the 2nd 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 last quarter. Pingora Partners LLC bought a new stake in Applied Optoelectronics in the third quarter worth $82,000. FMR LLC lifted its position in Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after buying an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics during the second quarter worth $89,000. Finally, Summit Securities Group LLC bought a new position in Applied Optoelectronics during the second quarter valued at $109,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.