SUGAR LAND, Texas—Stefan J. Murry, Chief Financial Officer of Applied Optoelectronics, Inc. (NASDAQ:AAOI), recently sold shares of the company amid a remarkable 230% surge in stock price over the past six months, according to a filing with the Securities and Exchange Commission. The company, currently valued at $1.6 billion, has shown significant price volatility according to InvestingPro data. The transaction, which took place on January 21, involved the sale of 2,298 shares at a weighted average price of $35.167 per share, amounting to a total of $80,813. The shares were sold as part of a pre-arranged trading plan under Rule 10b5-1, which Murry adopted on September 18, 2024. The sale prices for these transactions ranged from $35 to $35.34 per share.
Following the sale, Murry retains ownership of 209,831 shares of the company. Additionally, on January 22, Murry surrendered a total of 8,250 shares back to the company to cover tax withholding obligations related to the vesting of restricted stock units. These shares were valued at $30.15 each, totaling $248,737.
In other recent news, Applied Optoelectronics has been making significant strides. The firm recently entered into a construction contract with Chyi Ding Technologies Co., Ltd, which will expand its manufacturing capabilities. This project aims to enhance manufacturing operations and is scheduled for completion by April 2025. On the financial front, the company’s Q3 2024 revenue saw a notable increase, reaching $65.2 million, a 4% year-over-year rise, and a significant 51% surge from the previous quarter.
Rosenblatt Securities has raised its stock price target for Applied Optoelectronics to $44, maintaining a Buy rating based on the company’s future earnings potential. However, B.Riley downgraded its rating for Applied Optoelectronics stock from Neutral to Sell, citing concerns over a potential deceleration in the 400G market segment.
Applied Optoelectronics has also initiated a patent infringement lawsuit against Eoptolink Technology USA Inc., alleging the violation of multiple optical transceiver patents held by the company. These are among the recent developments in the company’s operations.
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