David C. Kuo Sells 10,000 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) Stock

Applied Optoelectronics, Inc. (NASDAQ:AAOI) insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $26.93, for a total transaction of $269,300.00. Following the completion of the sale, the insider now owns 118,122 shares in the company, valued at approximately $3,181,025.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Applied Optoelectronics Price Performance

Shares of AAOI stock traded up $0.25 during trading hours on Tuesday, hitting $28.54. 3,627,757 shares of the company’s stock were exchanged, compared to its average volume of 2,582,406. The stock’s 50-day moving average is $15.93 and its 200-day moving average is $11.92. 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 stock has a market cap of $1.17 billion, a price-to-earnings ratio of -13.73 and a beta of 1.96. Applied Optoelectronics, Inc. has a 52 week low of $6.70 and a 52 week high of $28.94.

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co acquired a new position in Applied Optoelectronics in the 1st quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 buying an additional 6,787 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Applied Optoelectronics in the second quarter worth approximately $89,000. Summit Securities Group LLC bought a new stake in Applied Optoelectronics during the second quarter worth $109,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Applied Optoelectronics during the second quarter worth $118,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. B. Riley lowered their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Rosenblatt Securities lifted their price target on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a research report on Friday. Northland Securities boosted their price objective on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday. Raymond James boosted their price objective on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday. Finally, B. Riley Financial restated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a report on Thursday, August 8th. One 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, the company has an average rating of “Hold” and an average target price of $18.70.

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.