Applied Optoelectronics (NASDAQ:AAOI) Trading 6.9% Higher – Time to Buy?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) traded up 6.9% on Wednesday . The stock traded as high as $28.51 and last traded at $29.00. 678,734 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 2,949,168 shares. The stock had previously closed at $27.12.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities upped their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research note on Friday, December 13th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, January 31st. Northland Securities reiterated an “outperform” rating and issued a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Raymond James boosted 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. Finally, B. Riley downgraded 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 given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Price Performance

The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -14.37 and a beta of 2.36. The company’s 50 day moving average is $33.59 and its 200-day moving average is $22.01. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, Director Richard B. Black sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the sale, the director now owns 157,813 shares in the company, valued at $4,576,577. This trade represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stefan J. Murry sold 5,000 shares of Applied Optoelectronics 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 transaction, the chief financial officer now owns 216,129 shares in the company, valued at approximately $6,821,031.24. This trade represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,067 shares of company stock valued at $3,243,938. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pingora Partners LLC acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter worth about $82,000. FMR LLC raised 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. The Manufacturers Life Insurance Company acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter worth about $118,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter worth about $186,000. Finally, Sei Investments Co. acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter worth about $194,000. 61.72% of the stock is 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.