Raymond James Forecasts Strong Price Appreciation for Applied Optoelectronics (NASDAQ:AAOI) Stock

Applied Optoelectronics (NASDAQ:AAOI) had its target price lifted by stock analysts at Raymond James from $17.00 to $23.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Raymond James’ price target indicates a potential downside of 17.15% from the stock’s previous close.

AAOI has been the topic of several other research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Applied Optoelectronics in a report on Wednesday, October 9th. B. Riley dropped their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Finally, B. Riley Financial reissued a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Applied Optoelectronics currently has a consensus rating of “Hold” and an average price target of $18.70.

Applied Optoelectronics Trading Up 55.1 %

Shares of AAOI stock opened at $27.76 on Friday. 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 has a market cap of $1.14 billion, a price-to-earnings ratio of -14.53 and a beta of 1.96. Applied Optoelectronics has a 1 year low of $6.70 and a 1 year high of $27.81. The firm has a fifty day moving average price of $15.59 and a 200-day moving average price of $11.79.

Insiders Place Their Bets

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was 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 of the company’s stock, valued at $1,996,473.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

A number of institutional investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics in the first quarter worth about $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Applied Optoelectronics during the 2nd quarter worth approximately $89,000. Summit Securities Group LLC purchased a new position in Applied Optoelectronics during the 2nd quarter valued at $109,000. Finally, The Manufacturers Life Insurance Company bought a new position in Applied Optoelectronics in the 2nd quarter valued at $118,000. 61.72% of the stock is currently owned by 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.