Applied Optoelectronics (NASDAQ:AAOI) Reaches New 12-Month High – What’s Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $29.38 and last traded at $28.91, with a volume of 1836774 shares trading hands. The stock had previously closed at $26.80.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Rosenblatt Securities lifted their price objective on Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. Northland Securities lifted 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. B. Riley Financial reiterated a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a research report on Thursday, August 8th. B. Riley lowered their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Raymond James upped their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Applied Optoelectronics has an average rating of “Hold” and an average target price of $18.70.

Applied Optoelectronics Stock Up 19.3 %

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 company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -15.59 and a beta of 1.96. The business’s 50 day moving average is $17.77 and its 200 day moving average is $12.66.

Insiders Place Their Bets

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $26.93, for a total transaction of $269,300.00. Following the transaction, the insider now owns 118,122 shares in the company, valued at approximately $3,181,025.46. This represents a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Several large investors have recently modified their holdings of AAOI. CANADA LIFE ASSURANCE Co acquired a new position in shares of Applied Optoelectronics in the 1st quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares during the last quarter. Pingora Partners LLC acquired a new stake in shares of Applied Optoelectronics during the third quarter worth about $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 valued at $88,000 after purchasing an additional 5,956 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics during the 2nd quarter worth approximately $89,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.