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

Applied Optoelectronics, Inc. (NASDAQ:AAOI) was up 9.9% during trading on Wednesday . The company traded as high as $28.81 and last traded at $29.05. Approximately 1,992,269 shares were traded 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.

Analysts Set New Price Targets

A number of research analysts recently commented on AAOI shares. B. Riley lowered Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a research note on Tuesday, December 10th. Northland Securities reiterated an “outperform” rating and set a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Raymond James increased their price objective on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Rosenblatt Securities increased their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Stock Up 5.6 %

The firm has a fifty day moving average price of $31.75 and a 200 day moving average price of $23.24. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.31 billion, a P/E ratio of -13.59 and a beta of 2.36.

Insider Transactions at Applied Optoelectronics

In other news, Director Richard B. Black sold 8,162 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $37.18, for a total transaction of $303,463.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Elizabeth G. Loboa sold 13,494 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $36.54, for a total value of $493,070.76. Following the sale, the director now owns 124,500 shares in the company, valued at $4,549,230. The trade was a 9.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,744 shares of company stock worth $2,469,335. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in Applied Optoelectronics in the fourth quarter valued at about $38,000. Sterling Capital Management LLC boosted its holdings in Applied Optoelectronics by 858.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Applied Optoelectronics in the fourth quarter valued at about $63,000. Summit Investment Advisors Inc. boosted its holdings in Applied Optoelectronics by 17.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 637 shares during the last quarter. Finally, Pingora Partners LLC bought a new position in Applied Optoelectronics in the third quarter valued at about $82,000. Institutional investors 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.