Applied Optoelectronics (NASDAQ:AAOI) Rating Lowered to “Sell” at B. Riley

Applied Optoelectronics (NASDAQ:AAOI) was downgraded by research analysts at B. Riley from a “neutral” rating to a “sell” rating in a note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $14.00 price target on the semiconductor company’s stock. B. Riley’s target price suggests a potential downside of 58.43% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Rosenblatt Securities lifted their price objective on Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a research report on Friday, November 8th. Raymond James upped their target price on Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Northland Securities raised their target price on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.70.

Applied Optoelectronics Price Performance

Shares of Applied Optoelectronics stock opened at $33.68 on Tuesday. The business has a 50 day moving average of $25.25 and a 200 day moving average of $15.56. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $44.50. The company has a market cap of $1.52 billion, a PE ratio of -16.35 and a beta of 2.36. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36.

Insider Activity

In related news, Director Elizabeth G. Loboa sold 13,494 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 124,500 shares of the company’s stock, valued at $4,549,230. This trade represents a 9.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Yeh sold 10,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total value of $430,800.00. Following the sale, the director now owns 223,538 shares in the company, valued at approximately $9,630,017.04. This represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,769 shares of company stock worth $2,813,037. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several institutional investors have recently modified their holdings of AAOI. Westfield Capital Management Co. LP purchased a new stake in Applied Optoelectronics during the 3rd quarter valued at $19,019,000. Whale Rock Capital Management LLC purchased a new stake in Applied Optoelectronics during the third quarter valued at $16,145,000. Shellback Capital LP bought a new position in Applied Optoelectronics in the second quarter valued at about $8,617,000. Royce & Associates LP grew its stake in shares of Applied Optoelectronics by 47.7% during the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock valued at $22,847,000 after purchasing an additional 515,489 shares during the period. Finally, JAT Capital Mgmt LP purchased a new stake in shares of Applied Optoelectronics during the 3rd quarter valued at about $6,470,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.