Applied Optoelectronics (NASDAQ:AAOI) Trading 7.8% Higher – What’s Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shares traded up 7.8% during mid-day trading on Wednesday . The company traded as high as $30.68 and last traded at $29.97. 1,304,218 shares were traded during mid-day trading, a decline of 49% from the average session volume of 2,551,551 shares. The stock had previously closed at $27.79.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Raymond James increased their target price on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Northland Securities reiterated an “outperform” rating and issued a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Friday, January 3rd. Rosenblatt Securities increased their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, B. Riley cut Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Applied Optoelectronics currently has a consensus rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Trading Up 10.0 %

The company has a market capitalization of $1.43 billion, a P/E ratio of -14.84 and a beta of 2.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a fifty day moving average price of $33.91 and a 200-day moving average price of $19.80.

Insider Activity

In other Applied Optoelectronics news, Director Elizabeth G. Loboa sold 13,494 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $36.54, for a total transaction of $493,070.76. Following the completion of the transaction, the director now directly owns 124,500 shares of the company’s stock, valued at approximately $4,549,230. This represents a 9.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Yeh sold 10,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total value of $430,800.00. Following the transaction, the director now directly owns 223,538 shares of the company’s stock, valued at approximately $9,630,017.04. This trade represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,769 shares of company stock valued at $3,015,537 over the last three months. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in Applied Optoelectronics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock valued at $210,000 after purchasing an additional 483 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Applied Optoelectronics by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock worth $1,557,000 after acquiring an additional 3,081 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of Applied Optoelectronics by 24.3% during the third quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock worth $227,000 after acquiring an additional 3,097 shares in the last quarter. Pingora Partners LLC purchased a new stake in shares of Applied Optoelectronics during the third quarter worth $82,000. Finally, FMR LLC lifted its position in shares of Applied Optoelectronics by 3,290.6% during the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 5,956 shares in the last quarter. 61.72% of the stock is owned by institutional investors.

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.