Applied Optoelectronics (NASDAQ:AAOI) Trading Up 7.8% – Here’s What Happened

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) traded up 7.8% on Wednesday . The stock traded as high as $30.68 and last traded at $29.97. 1,304,218 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 2,551,551 shares. The stock had previously closed at $27.79.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAOI. Rosenblatt Securities raised their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Northland Securities restated an “outperform” rating and set a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, January 3rd. B. Riley downgraded shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a research report on Tuesday, December 10th. Finally, 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 report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Applied Optoelectronics has a consensus rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Price Performance

The firm’s 50 day moving average price is $34.47 and its two-hundred day moving average price is $19.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market cap of $1.45 billion, a PE ratio of -15.06 and a beta of 2.39.

Insider Buying and Selling

In related news, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total transaction of $616,803.05. Following the sale, the insider now directly owns 195,572 shares in the company, valued at approximately $5,935,610.20. The trade was a 9.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the completion of the transaction, the insider now owns 118,122 shares of the company’s stock, valued at approximately $3,181,025.46. This represents a 7.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,769 shares of company stock valued at $3,432,417. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new position in Applied Optoelectronics during the fourth quarter valued at approximately $12,731,000. Virtu Financial LLC bought a new position in Applied Optoelectronics in the 3rd quarter valued at $353,000. Barclays PLC grew its position in shares of Applied Optoelectronics by 37.4% during the 3rd quarter. Barclays PLC now owns 56,920 shares of the semiconductor company’s stock valued at $815,000 after purchasing an additional 15,507 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Applied Optoelectronics by 7.1% in the third quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company’s stock worth $13,018,000 after purchasing an additional 60,241 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Applied Optoelectronics in the third quarter worth $340,000. 61.72% of the stock is currently owned by institutional investors.

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.