Applied Optoelectronics, Inc. (NASDAQ:AAOI) Director Min-Chu (Mike) Chen Sells 9,790 Shares of Stock

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

Applied Optoelectronics Trading Up 2.5 %

NASDAQ:AAOI opened at $41.74 on Wednesday. Applied Optoelectronics, Inc. has a 52 week low of $6.70 and a 52 week high of $44.31. 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 business’s 50 day moving average is $22.03 and its two-hundred day moving average is $14.34.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. B. Riley lowered their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Rosenblatt Securities upped their target price on Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a research report on Friday, November 8th. B. Riley Financial reiterated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, Raymond James lifted their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Applied Optoelectronics presently has a consensus rating of “Hold” and a consensus target price of $18.70.

Hedge Funds Weigh In On Applied Optoelectronics

Large investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Applied Optoelectronics during the first quarter worth $46,000. Pingora Partners LLC acquired a new position in 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% 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. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 purchasing an additional 6,787 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics during the 2nd quarter valued at approximately $89,000. 61.72% of the stock is currently owned by institutional investors.

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.