Applied Optoelectronics (NASDAQ:AAOI) Trading 8% Higher – Time to Buy?

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAOI. Rosenblatt Securities boosted their price target 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 boosted 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. B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a report on Tuesday, December 10th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, January 31st. Finally, Northland Securities reissued an “outperform” rating and set a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Trading Down 4.2 %

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The business has a 50 day simple moving average of $32.08 and a two-hundred day simple moving average of $22.79. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -12.57 and a beta of 2.36.

Insider Transactions at Applied Optoelectronics

In related news, Director William H. Yeh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 of the company’s stock, valued at $9,630,017.04. The trade was a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total value of $616,803.05. Following the transaction, the insider now directly owns 195,572 shares in the company, valued at approximately $5,935,610.20. This represents a 9.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,067 shares of company stock valued at $3,243,938. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in shares of Applied Optoelectronics by 22.4% in the 4th quarter. Northern Trust Corp now owns 400,195 shares of the semiconductor company’s stock worth $14,751,000 after buying an additional 73,112 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Applied Optoelectronics by 11.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 16,333 shares of the semiconductor company’s stock worth $602,000 after acquiring an additional 1,666 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management grew its holdings in shares of Applied Optoelectronics by 35.0% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 27,950 shares of the semiconductor company’s stock valued at $1,030,000 after purchasing an additional 7,250 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Applied Optoelectronics during the 4th quarter worth approximately $2,770,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Applied Optoelectronics by 130.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 266,606 shares of the semiconductor company’s stock worth $9,828,000 after purchasing an additional 150,770 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.