Applied Optoelectronics (NASDAQ:AAOI) Trading Up 9.9% – Still a Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price was up 9.9% during mid-day trading on Wednesday . The stock traded as high as $28.81 and last traded at $29.05. Approximately 1,992,269 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 2,852,682 shares. The stock had previously closed at $26.43.

Analyst Ratings Changes

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

Applied Optoelectronics Stock Performance

The company has a market cap of $1.31 billion, a price-to-earnings ratio of -13.59 and a beta of 2.36. 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 50-day moving average price of $31.75 and a 200 day moving average price of $23.24.

Insider Transactions at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 2,298 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $35.17, for a total transaction of $80,820.66. Following the sale, the chief financial officer now owns 209,831 shares of the company’s stock, valued at $7,379,756.27. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Yeh sold 10,000 shares of Applied Optoelectronics stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total value of $430,800.00. Following the completion of the sale, the director now directly owns 223,538 shares in the company, valued at approximately $9,630,017.04. This represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,744 shares of company stock valued at $2,469,335 over the last 90 days. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in Applied Optoelectronics in the 4th quarter valued at approximately $38,000. Sterling Capital Management LLC raised its position in Applied Optoelectronics by 858.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Applied Optoelectronics in the 4th quarter valued at approximately $63,000. Pingora Partners LLC acquired a new stake in Applied Optoelectronics in the 3rd quarter valued at approximately $82,000. Finally, FMR LLC raised its position in Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 5,956 shares during the last quarter. Institutional investors and hedge funds 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.