Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Sells $391,600.00 in Stock

Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Min-Chu (Mike) Chen sold 9,790 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $40.00, for a total value of $391,600.00. Following the transaction, the director now owns 165,054 shares of the company’s stock, valued at approximately $6,602,160. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI opened at $41.74 on Wednesday. Applied Optoelectronics, Inc. has a twelve month low of $6.70 and a twelve month high of $44.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a 50-day moving average of $22.03 and a two-hundred day moving average of $14.34.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AAOI. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. B. Riley Financial reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. Northland Securities raised their target price on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley reduced 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 note on Wednesday, August 7th. Finally, Rosenblatt Securities increased their price objective on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.70.

Institutional Trading of Applied Optoelectronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co acquired a new position in Applied Optoelectronics in the first quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 6,787 shares during the last quarter. Pingora Partners LLC acquired a new stake in shares of Applied Optoelectronics during the third quarter worth $82,000. FMR LLC lifted its holdings in shares of Applied Optoelectronics by 3,290.6% during 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 during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Applied Optoelectronics in the 2nd quarter valued at $89,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.