Applied Optoelectronics (NASDAQ:AAOI) Trading Up 9.2% – Here’s Why

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price traded up 9.2% during mid-day trading on Tuesday . The stock traded as high as $26.37 and last traded at $26.79. 2,472,451 shares were traded during trading, a decline of 19% from the average session volume of 3,059,058 shares. The stock had previously closed at $24.54.

Analysts Set New Price Targets

AAOI has been the subject of a number of analyst reports. Rosenblatt Securities boosted their price target on Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a report on Friday, December 13th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Wednesday, January 22nd. Raymond James raised their price target on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Northland Securities reiterated an “outperform” rating and issued a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Finally, B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.20.

Applied Optoelectronics Trading Up 8.7 %

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -12.95 and a beta of 2.39. The business’s 50 day moving average price is $34.85 and its 200-day moving average price is $21.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06.

Insider Buying and Selling at Applied Optoelectronics

In related news, CFO Stefan J. Murry sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total transaction of $157,800.00. Following the completion of the sale, the chief financial officer now owns 216,129 shares of the company’s stock, valued at approximately $6,821,031.24. This represents a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Yeh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.08, for a total value of $430,800.00. Following the transaction, the director now owns 223,538 shares in the company, valued at approximately $9,630,017.04. This represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,067 shares of company stock worth $3,513,238. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Applied Optoelectronics

Hedge funds have recently made changes to their positions in the stock. Westfield Capital Management Co. LP bought a new stake in Applied Optoelectronics in the 3rd quarter valued at about $19,019,000. Whale Rock Capital Management LLC bought a new stake in shares of Applied Optoelectronics during the third quarter valued at approximately $16,145,000. Royce & Associates LP boosted its position in shares of Applied Optoelectronics by 47.7% during the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock worth $22,847,000 after buying an additional 515,489 shares during the period. JAT Capital Mgmt LP acquired a new position in Applied Optoelectronics during the 3rd quarter worth $6,470,000. Finally, Assenagon Asset Management S.A. acquired a new position in Applied Optoelectronics during the 4th quarter worth $12,731,000. Institutional investors and hedge funds 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.