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

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price rose 8% during trading on Thursday . The stock traded as high as $26.95 and last traded at $27.03. Approximately 1,015,918 shares changed hands during trading, a decline of 65% from the average daily volume of 2,872,368 shares. The stock had previously closed at $25.03.

Analyst Ratings Changes

AAOI has been the subject of several recent research reports. Raymond James upped their price target on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Rosenblatt Securities upped their price target on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a research report on Tuesday, December 10th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, January 31st. Finally, Northland Securities restated an “outperform” rating and set a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Applied Optoelectronics currently has an average rating of “Hold” and a consensus price target of $29.20.

Applied Optoelectronics Stock Down 4.2 %

The stock’s 50-day moving average is $32.08 and its 200-day moving average is $22.79. The stock has a market cap of $1.21 billion, a P/E ratio of -12.57 and a beta of 2.36. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Insider Activity at Applied Optoelectronics

In other Applied Optoelectronics news, Director Richard B. Black sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the sale, the director now directly owns 157,813 shares of the company’s stock, valued at approximately $4,576,577. This represents a 5.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stefan J. Murry sold 2,298 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total transaction of $80,820.66. Following the completion of the sale, the chief financial officer now directly owns 209,831 shares of the company’s stock, valued at $7,379,756.27. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,067 shares of company stock worth $3,243,938 in the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Corebridge Financial Inc. lifted its holdings in Applied Optoelectronics by 2.4% in the 4th quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company’s stock valued at $747,000 after acquiring an additional 471 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Applied Optoelectronics by 3.4% during 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 in the last quarter. Arizona State Retirement System lifted its stake in Applied Optoelectronics by 5.7% during the fourth quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 603 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Applied Optoelectronics by 17.6% during the fourth quarter. Ameritas Investment Partners Inc. now owns 4,262 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 637 shares in the last quarter. Finally, Virtu Financial LLC lifted its stake in Applied Optoelectronics by 3.6% during the fourth quarter. Virtu Financial LLC now owns 25,529 shares of the semiconductor company’s stock valued at $941,000 after buying an additional 895 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.