Applied Optoelectronics (NASDAQ:AAOI) Trading 4.8% Higher – Here’s What Happened

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) were up 4.8% on Thursday . The company traded as high as $36.45 and last traded at $35.61. Approximately 861,789 shares traded hands during trading, a decline of 69% from the average daily volume of 2,739,287 shares. The stock had previously closed at $33.97.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AAOI. Northland Securities restated an “outperform” rating and issued a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Rosenblatt Securities increased their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Raymond James lifted their price target on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, B. Riley lowered Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Stock Up 16.8 %

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.70 billion, a PE ratio of -18.36 and a beta of 2.37. The company’s fifty day moving average price is $27.43 and its 200-day moving average price is $16.45.

Insider Buying and Selling

In other news, CFO Stefan J. Murry sold 5,000 shares of the 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David C. Kuo sold 10,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 118,122 shares in the company, valued at approximately $3,181,025.46. The trade was a 7.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,769 shares of company stock worth $3,165,737 in the last three months. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 6,787 shares in the last quarter. Pingora Partners LLC bought a new stake in Applied Optoelectronics in the third quarter worth $82,000. FMR LLC increased its position in Applied Optoelectronics by 3,290.6% during the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Applied Optoelectronics during the 2nd quarter worth about $89,000. Finally, Summit Securities Group LLC bought a new position in Applied Optoelectronics during the 2nd quarter valued at about $109,000. Institutional investors 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.