Applied Optoelectronics Sees Unusually Large Options Volume (NASDAQ:AAOI)

Applied Optoelectronics, Inc. (NASDAQ:AAOIGet Free Report) was the target of unusually large options trading on Friday. Investors purchased 8,922 put options on the stock. This represents an increase of approximately 70% compared to the typical daily volume of 5,246 put options.

Insiders Place Their Bets

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total value of $150,200.00. Following the sale, the insider now directly owns 132,921 shares in the company, valued at $1,996,473.42. The trade was a 7.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.35, for a total value of $616,803.05. Following the completion of the sale, the insider now owns 195,572 shares in the company, valued at $5,935,610.20. This represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,817 shares of company stock worth $1,687,174. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAOI. Westfield Capital Management Co. LP purchased a new position in shares of Applied Optoelectronics in the 3rd quarter worth about $19,019,000. Whale Rock Capital Management LLC bought a new stake in Applied Optoelectronics in the 3rd quarter worth approximately $16,145,000. Shellback Capital LP purchased a new stake in Applied Optoelectronics in the second quarter worth approximately $8,617,000. Royce & Associates LP grew its position in Applied Optoelectronics by 47.7% during the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock valued at $22,847,000 after acquiring an additional 515,489 shares during the last quarter. Finally, JAT Capital Mgmt LP purchased a new position in shares of Applied Optoelectronics during the third quarter worth approximately $6,470,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Applied Optoelectronics Price Performance

AAOI stock traded up $6.01 during midday trading on Friday, reaching $42.43. The company had a trading volume of 2,199,335 shares, compared to its average volume of 2,644,490. The firm has a 50-day moving average price of $20.95 and a 200-day moving average price of $13.87. The company has a market capitalization of $1.91 billion, a P/E ratio of -19.48 and a beta of 1.96. Applied Optoelectronics has a 1 year low of $6.70 and a 1 year high of $42.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. B. Riley Financial reissued a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a report on Thursday, August 8th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Rosenblatt Securities lifted their target price on Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a report on Friday, November 8th. B. Riley lowered their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Northland Securities upped their target price 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Applied Optoelectronics currently has an average rating of “Hold” and a consensus price target of $18.70.

Check Out Our Latest Research Report on Applied Optoelectronics

About Applied Optoelectronics

(Get Free Report)

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.

See Also

Receive News & Ratings for Applied Optoelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics and related companies with MarketBeat.com's FREE daily email newsletter.