Applied Optoelectronics (NASDAQ:AAOI) Cut to Sell at B. Riley

B. Riley cut shares of Applied Optoelectronics (NASDAQ:AAOI) from a neutral rating to a sell rating in a research report report published on Tuesday morning, Marketbeat reports. The firm currently has $14.00 price objective on the semiconductor company’s stock.

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

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI opened at $33.00 on Tuesday. The firm has a 50-day simple moving average of $25.62 and a 200-day simple moving average of $15.68. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -16.02 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. Applied Optoelectronics has a 52 week low of $6.70 and a 52 week high of $44.50.

Insider Buying and Selling at Applied Optoelectronics

In related news, insider Hung-Lun (Fred) Chang sold 20,323 shares of Applied Optoelectronics stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $30.35, for a total value of $616,803.05. Following the completion of the transaction, the insider now owns 195,572 shares in the company, valued at approximately $5,935,610.20. The trade was a 9.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $26.93, for a total transaction of $269,300.00. Following the completion of the transaction, the insider now owns 118,122 shares of the company’s stock, valued at $3,181,025.46. This trade represents a 7.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,769 shares of company stock worth $2,813,037 over the last three months. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 6,787 shares in the last quarter. Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics in the third quarter valued at approximately $82,000. FMR LLC grew its holdings in shares of Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 5,956 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Applied Optoelectronics in the second quarter valued at approximately $89,000. Finally, Summit Securities Group LLC acquired a new position in shares of Applied Optoelectronics in the second quarter valued at approximately $109,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.