Northland Securities Forecasts Strong Price Appreciation for Applied Optoelectronics (NASDAQ:AAOI) Stock

Applied Optoelectronics (NASDAQ:AAOI) had its price target hoisted by equities researchers at Northland Securities from $18.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ target price points to a potential downside of 9.94% from the company’s current price.

AAOI has been the topic of several other research reports. B. Riley dropped their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. B. Riley Financial restated a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Applied Optoelectronics in a report on Wednesday, October 9th. Finally, Raymond James boosted their price objective on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.70.

Applied Optoelectronics Stock Performance

Shares of AAOI opened at $27.76 on Friday. The company has a market capitalization of $1.14 billion, a PE ratio of -14.53 and a beta of 1.96. Applied Optoelectronics has a one year low of $6.70 and a one year high of $27.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The company’s fifty day moving average price is $15.59 and its 200 day moving average price is $11.79.

Insider Activity

In other news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total transaction of $150,200.00. Following the sale, the insider now directly owns 132,921 shares in the company, valued at approximately $1,996,473.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.40% of the stock is owned by company insiders.

Institutional Trading of Applied Optoelectronics

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in Applied Optoelectronics by 245.7% in the first quarter. BNP Paribas Financial Markets now owns 49,661 shares of the semiconductor company’s stock valued at $688,000 after buying an additional 35,295 shares in the last quarter. Swiss National Bank acquired a new position in Applied Optoelectronics in the first quarter valued at about $1,123,000. Vanguard Group Inc. boosted its position in Applied Optoelectronics by 29.2% in the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock valued at $27,089,000 after buying an additional 442,277 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in Applied Optoelectronics in the first quarter valued at about $46,000. Finally, Truvestments Capital LLC acquired a new position in Applied Optoelectronics in the first quarter valued at about $161,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.