Applied Optoelectronics (NASDAQ:AAOI) Trading Up 6.1% – Time to Buy?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) rose 6.1% during mid-day trading on Wednesday . The stock traded as high as $34.20 and last traded at $32.00. Approximately 1,444,524 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 2,781,017 shares. The stock had previously closed at $30.15.

Analysts Set New Price Targets

AAOI has been the subject of a number of recent research reports. Rosenblatt Securities increased their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Raymond James raised their price target on Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. B. Riley lowered Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a research report on Tuesday, December 10th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Wednesday. Finally, Northland Securities restated an “outperform” rating and set a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Two research 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, Applied Optoelectronics presently has an average rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Price Performance

The business has a fifty day moving average of $34.83 and a two-hundred day moving average of $20.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -14.90 and a beta of 2.39.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, 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 value of $157,800.00. Following the transaction, the chief financial officer now directly owns 216,129 shares of the company’s stock, valued at $6,821,031.24. This represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David C. Kuo sold 10,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the transaction, the insider now owns 118,122 shares in the company, valued at $3,181,025.46. The trade was a 7.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,067 shares of company stock worth $3,513,238 over the last ninety days. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Institutional investors and hedge funds have recently modified their holdings of the business. Pingora Partners LLC bought a new stake in Applied Optoelectronics in the 3rd quarter valued at about $82,000. FMR LLC raised its position in shares of Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 5,956 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $89,000. The Manufacturers Life Insurance Company acquired a new stake in Applied Optoelectronics during the second quarter worth approximately $118,000. Finally, Oppenheimer & Co. Inc. bought a new position in Applied Optoelectronics during the 3rd quarter worth $186,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.