Applied Optoelectronics (NASDAQ:AAOI) Trading 8% Higher – Here’s What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price shot up 8% on Friday . The company traded as high as $38.33 and last traded at $38.33. 2,863,359 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 2,632,559 shares. The stock had previously closed at $35.50.

Analyst Upgrades and Downgrades

AAOI has been the topic of several recent analyst reports. B. Riley Financial restated a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. Northland Securities lifted their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Rosenblatt Securities boosted their price objective on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. B. Riley lowered their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Raymond James upped their price target on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research note 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 issued a buy rating to the stock. According to data from MarketBeat.com, Applied Optoelectronics has an average rating of “Hold” and an average target price of $18.70.

Applied Optoelectronics Stock Up 7.0 %

The business’s 50-day moving average is $18.61 and its two-hundred day moving average is $12.96. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -18.38 and a beta of 1.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61.

Insider Buying and Selling

In related news, CFO Stefan J. Murry sold 5,000 shares of the business’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 completion of the sale, the chief financial officer now directly owns 216,129 shares in the company, valued at $6,821,031.24. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were 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 approximately $1,996,473.42. This trade represents a 7.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,817 shares of company stock valued at $1,687,174. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in Applied Optoelectronics by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock valued at $210,000 after buying 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 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock valued at $1,557,000 after acquiring an additional 3,081 shares during the period. Truvestments Capital LLC boosted its stake in 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. CANADA LIFE ASSURANCE Co acquired a new stake in Applied Optoelectronics in the first quarter worth $46,000. Finally, Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics during the third quarter valued at about $82,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.