Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up – Here’s What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $32.11, but opened at $33.06. Applied Optoelectronics shares last traded at $34.19, with a volume of 736,653 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on AAOI shares. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Northland Securities reaffirmed an “outperform” rating and set a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday. B. Riley lowered Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a research note on Tuesday, December 10th. Rosenblatt Securities increased their price target on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Raymond James lifted their price objective on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Applied Optoelectronics has an average rating of “Hold” and an average target price of $26.00.

Applied Optoelectronics Price Performance

The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -15.72 and a beta of 2.37. The stock has a fifty day simple moving average of $27.43 and a 200-day simple moving average of $16.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, Director Richard B. Black sold 10,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $35.27, for a total transaction of $352,700.00. Following the transaction, the director now owns 167,813 shares of the company’s stock, valued at approximately $5,918,764.51. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Min-Chu (Mike) Chen sold 9,790 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $40.00, for a total value of $391,600.00. Following the completion of the sale, the director now directly owns 165,054 shares of the company’s stock, valued at $6,602,160. This trade represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,769 shares of company stock valued at $3,165,737 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors and hedge funds have recently bought and sold shares of AAOI. Royce & Associates LP raised its position in shares of Applied Optoelectronics by 47.7% during the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock valued at $22,847,000 after buying an additional 515,489 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Applied Optoelectronics during the third quarter worth $19,019,000. Whale Rock Capital Management LLC purchased a new stake in Applied Optoelectronics in the third quarter valued at $16,145,000. Shellback Capital LP acquired a new position in shares of Applied Optoelectronics in the 2nd quarter valued at $8,617,000. Finally, Geode Capital Management LLC grew its holdings in shares of Applied Optoelectronics by 7.1% during the 3rd 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. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.