Applied Optoelectronics (NASDAQ:AAOI) Trading Up 8% – What’s Next?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) traded up 8% during trading on Friday . The company traded as high as $38.33 and last traded at $38.33. 2,863,359 shares changed hands during trading, an increase of 9% from the average session volume of 2,632,559 shares. The stock had previously closed at $35.50.

Analysts Set New Price Targets

AAOI has been the subject of several analyst reports. Northland Securities raised their price objective on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. B. Riley dropped their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Raymond James lifted their target price on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities increased their price target on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Applied Optoelectronics presently has an average rating of “Hold” and a consensus target price of $18.70.

Applied Optoelectronics Stock Performance

The firm has a market capitalization of $1.71 billion, a PE ratio of -18.44 and a beta of 1.96. 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 company has a 50-day moving average of $19.08 and a 200 day moving average of $13.16.

Insider Activity

In other news, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $26.93, for a total transaction of $269,300.00. Following the sale, the insider now owns 118,122 shares in the company, valued at approximately $3,181,025.46. This trade represents a 7.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stefan J. Murry sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $31.56, for a total transaction of $157,800.00. Following the completion of the transaction, the chief financial officer now owns 216,129 shares of the company’s stock, valued at $6,821,031.24. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,817 shares of company stock worth $1,687,174. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics in the 1st quarter worth approximately $46,000. Pingora Partners LLC purchased a new position in shares of Applied Optoelectronics during the third quarter worth approximately $82,000. FMR LLC lifted its holdings in shares of Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 5,956 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 valued at $77,000 after purchasing an additional 6,787 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Applied Optoelectronics in the second quarter worth about $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.