StockNews.com upgraded shares of Applied Optoelectronics (NASDAQ:AAOI – Free Report) to a sell rating in a report issued on Friday morning.
AAOI has been the subject of several other reports. Rosenblatt Securities raised their target price on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a report on Friday, December 13th. Raymond James raised their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, December 20th. B. Riley cut shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a research note on Tuesday, December 10th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Two investment 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.20.
Check Out Our Latest Stock Analysis on Applied Optoelectronics
Applied Optoelectronics Stock Performance
Insider Activity
In related news, insider David C. Kuo sold 10,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $26.93, for a total value of $269,300.00. Following the completion of the sale, the insider now owns 118,122 shares of the company’s stock, valued at $3,181,025.46. This represents a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elizabeth G. Loboa sold 13,494 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was 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 directly owns 124,500 shares of the company’s stock, valued at $4,549,230. The trade was a 9.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,769 shares of company stock valued at $3,015,537. 5.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Applied Optoelectronics
A number of large investors have recently made changes to their positions in the business. Westfield Capital Management Co. LP bought a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at approximately $19,019,000. Whale Rock Capital Management LLC bought a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at approximately $16,145,000. Shellback Capital LP bought a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at approximately $8,617,000. Royce & Associates LP grew its stake in shares of Applied Optoelectronics by 47.7% in the 3rd 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 in the last quarter. Finally, JAT Capital Mgmt LP bought a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at approximately $6,470,000. 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.
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