Rosenblatt Securities Reaffirms “Buy” Rating for Applied Optoelectronics (NASDAQ:AAOI)

Applied Optoelectronics (NASDAQ:AAOI)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a report issued on Monday,Benzinga reports. They presently have a $44.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 62.72% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. B. Riley downgraded Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a report on Tuesday, December 10th. Raymond James increased their target price on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Friday, January 31st. Finally, Northland Securities restated an “outperform” rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Stock Performance

Shares of NASDAQ:AAOI opened at $27.04 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. Applied Optoelectronics has a 12 month low of $6.70 and a 12 month high of $44.50. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -13.13 and a beta of 2.36. The firm’s 50-day moving average is $31.32 and its 200 day moving average is $23.67.

Insider Activity

In related news, Director William H. Yeh sold 10,000 shares of Applied Optoelectronics stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total transaction of $430,800.00. Following the transaction, the director now directly owns 223,538 shares of the company’s stock, valued at $9,630,017.04. This trade represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard B. Black sold 8,162 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $37.18, for a total transaction of $303,463.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,250 shares of company stock worth $1,976,264. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Applied Optoelectronics

A number of institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Applied Optoelectronics during the fourth quarter valued at about $5,068,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Applied Optoelectronics by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,959 shares of the semiconductor company’s stock worth $2,910,000 after acquiring an additional 11,684 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Applied Optoelectronics during the 4th quarter worth approximately $13,035,000. Two Sigma Advisers LP lifted its position in Applied Optoelectronics by 265.8% during the fourth quarter. Two Sigma Advisers LP now owns 57,800 shares of the semiconductor company’s stock valued at $2,131,000 after acquiring an additional 42,000 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Applied Optoelectronics by 10.5% in the fourth quarter. Two Sigma Investments LP now owns 588,469 shares of the semiconductor company’s stock valued at $21,691,000 after acquiring an additional 55,863 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

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.