Richard B. Black Sells 10,000 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) Stock

Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Richard B. Black sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the transaction, the director now owns 157,813 shares in the company, valued at $4,576,577. The trade was a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Applied Optoelectronics Stock Performance

NASDAQ AAOI opened at $31.03 on Friday. The firm has a market cap of $1.45 billion, a P/E ratio of -15.06 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $34.54 and its 200-day moving average is $20.20. Applied Optoelectronics, Inc. has a 12-month low of $6.70 and a 12-month high of $44.50.

Analyst Ratings Changes

Several research analysts have weighed in on the company. B. Riley cut Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, December 10th. Rosenblatt Securities raised their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a report on Friday, December 13th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, January 3rd. Raymond James raised their price target on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Finally, Northland Securities reissued an “outperform” rating and set a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Applied Optoelectronics currently has a consensus rating of “Hold” and an average target price of $29.20.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Royce & Associates LP boosted its holdings in shares of Applied Optoelectronics by 47.7% in the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock worth $22,847,000 after acquiring an additional 515,489 shares during the period. Westfield Capital Management Co. LP bought a new position in Applied Optoelectronics in the 3rd quarter worth about $19,019,000. Whale Rock Capital Management LLC purchased a new position in Applied Optoelectronics during the 3rd quarter valued at about $16,145,000. Shellback Capital LP bought a new stake in shares of Applied Optoelectronics during the second quarter valued at about $8,617,000. Finally, Geode Capital Management LLC boosted its position in shares of Applied Optoelectronics by 7.1% in the third quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company’s stock valued at $13,018,000 after acquiring an additional 60,241 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.