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

StockNews.com upgraded shares of Applied Optoelectronics (NASDAQ:AAOI) to a sell rating in a research note issued to investors on Friday morning.

AAOI has been the subject of a number of other reports. Rosenblatt Securities lifted their price objective 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 lifted their price target on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. B. Riley downgraded Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, December 10th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. 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 MarketBeat.com, Applied Optoelectronics presently has a consensus rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Stock Performance

NASDAQ AAOI opened at $37.90 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. Applied Optoelectronics has a 1-year low of $6.70 and a 1-year high of $44.50. The business has a 50 day simple moving average of $31.79 and a two-hundred day simple moving average of $18.56. The stock has a market capitalization of $1.78 billion, a PE ratio of -18.40 and a beta of 2.39.

Insider Buying and Selling at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction on Friday, November 8th. The stock was sold at an average price of $26.93, for a total transaction of $269,300.00. Following the completion of the sale, the insider now directly owns 118,122 shares in the company, valued at approximately $3,181,025.46. This trade represents a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizabeth G. Loboa sold 13,494 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $36.54, for a total transaction of $493,070.76. Following the sale, the director now directly owns 124,500 shares of the company’s stock, valued at $4,549,230. This represents a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,769 shares of company stock worth $3,015,537 over the last 90 days. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

Institutional investors and hedge funds have recently modified their holdings of the stock. Westfield Capital Management Co. LP bought a new position in Applied Optoelectronics in the third quarter worth approximately $19,019,000. Whale Rock Capital Management LLC bought a new position in shares of Applied Optoelectronics during the 3rd quarter worth $16,145,000. Shellback Capital LP bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth $8,617,000. Royce & Associates LP increased its stake in shares of Applied Optoelectronics by 47.7% during the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock valued at $22,847,000 after buying an additional 515,489 shares during the period. Finally, JAT Capital Mgmt LP purchased a new stake in Applied Optoelectronics in the third quarter worth about $6,470,000. 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.