Applied Optoelectronics (NASDAQ:AAOI) Given New $23.00 Price Target at Raymond James

Applied Optoelectronics (NASDAQ:AAOI) had its price objective hoisted by Raymond James from $17.00 to $23.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other research analysts have also issued reports on AAOI. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. B. Riley Financial reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Applied Optoelectronics in a report on Wednesday, October 9th. Finally, B. Riley dropped their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Optoelectronics presently has an average rating of “Hold” and a consensus target price of $18.70.

Applied Optoelectronics Trading Up 1.9 %

NASDAQ:AAOI opened at $28.29 on Friday. The firm has a market cap of $1.16 billion, a P/E ratio of -13.73 and a beta of 1.96. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $15.93 and its 200-day simple moving average is $11.92. Applied Optoelectronics has a 12-month low of $6.70 and a 12-month high of $28.70.

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 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 in the company, valued at approximately $1,996,473.42. The trade was a 0.00 % 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. 5.40% of the stock is owned by company insiders.

Institutional Trading of Applied Optoelectronics

Large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Applied Optoelectronics during the first quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at $89,000. Summit Securities Group LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at $109,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at $118,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.