Applied Optoelectronics, Inc. (NASDAQ:AAOI – Get Free Report)’s stock price traded down 4.2% during trading on Monday . The stock traded as low as $34.68 and last traded at $34.91. 483,620 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 2,729,015 shares. The stock had previously closed at $36.43.
Analyst Ratings Changes
Several research firms recently issued reports on AAOI. Rosenblatt Securities increased their price target on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research report on Friday. B. Riley cut Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a report on Tuesday, December 10th. Northland Securities raised their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Finally, Raymond James lifted their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Two equities 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.00.
View Our Latest Report on AAOI
Applied Optoelectronics Trading Down 2.3 %
Insider Activity at Applied Optoelectronics
In other Applied Optoelectronics news, Director William H. Yeh sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total value of $430,800.00. Following the transaction, the director now directly owns 223,538 shares of the company’s stock, valued at approximately $9,630,017.04. This trade represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stefan J. Murry sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total value of $157,800.00. Following the completion of the transaction, the chief financial officer now directly owns 216,129 shares of the company’s stock, valued at approximately $6,821,031.24. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,769 shares of company stock worth $2,813,037 in the last quarter. Company insiders own 5.40% of the company’s stock.
Hedge Funds Weigh In On Applied Optoelectronics
Several institutional investors and hedge funds have recently bought and sold shares of AAOI. Royce & Associates LP raised its stake in shares of Applied Optoelectronics by 47.7% during the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock valued at $22,847,000 after purchasing an additional 515,489 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Applied Optoelectronics in the third quarter worth $19,019,000. Whale Rock Capital Management LLC purchased a new stake in shares of Applied Optoelectronics in the third quarter worth $16,145,000. Shellback Capital LP bought a new stake in Applied Optoelectronics during the second quarter valued at $8,617,000. Finally, Geode Capital Management LLC grew its position in Applied Optoelectronics by 7.1% during the third quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company’s stock worth $13,018,000 after buying an additional 60,241 shares in the last quarter. 61.72% of the stock is owned by 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.
Further Reading
- Five stocks we like better than Applied Optoelectronics
- Stock Average Calculator
- Semtech Stock Climbs as AI Boom Drives Turnaround Success
- The Top 3 Healthcare Dividend Stocks to Buy and Hold
- 3 Companies Leading the Way With Aggressive Stock Buybacks
- Diversification Can Smooth Returns And Mitigate Portfolio Risk
- Is It Time to Buy Nuclear Energy Stocks After the Latest Dip?
Receive News & Ratings for Applied Optoelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics and related companies with MarketBeat.com's FREE daily email newsletter.