Applied Optoelectronics (NASDAQ:AAOI) Stock Price Up 7.8% – Still a Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) rose 7.8% during trading on Wednesday . The stock traded as high as $30.68 and last traded at $29.97. Approximately 1,304,218 shares changed hands during trading, a decline of 49% from the average daily volume of 2,551,551 shares. The stock had previously closed at $27.79.

Wall Street Analyst Weigh In

AAOI has been the topic of several research analyst reports. Northland Securities restated an “outperform” rating and issued a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Friday, January 3rd. Rosenblatt Securities lifted their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a 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 target price for the company. in a research report on Tuesday, December 10th. Finally, Raymond James raised their price target on Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Applied Optoelectronics presently has an average rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The stock’s 50 day moving average price is $34.47 and its 200-day moving average price is $19.96. The company has a market cap of $1.45 billion, a PE ratio of -15.06 and a beta of 2.39.

Insider Buying and Selling at Applied Optoelectronics

In related news, Director William H. Yeh sold 10,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the sale, the director now directly owns 223,538 shares in the company, valued at $9,630,017.04. This represents a 4.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the firm’s 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 owns 195,572 shares in the company, valued at approximately $5,935,610.20. The trade was a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,769 shares of company stock worth $3,432,417 over the last three months. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in shares of Applied Optoelectronics in the fourth quarter valued at about $12,731,000. Virtu Financial LLC bought a new stake in shares of Applied Optoelectronics in the third quarter worth about $353,000. Barclays PLC increased its holdings in Applied Optoelectronics by 37.4% during the 3rd quarter. Barclays PLC now owns 56,920 shares of the semiconductor company’s stock valued at $815,000 after purchasing an additional 15,507 shares during the period. Geode Capital Management LLC increased its holdings in Applied Optoelectronics by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company’s stock valued at $13,018,000 after purchasing an additional 60,241 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Applied Optoelectronics during the 3rd quarter valued at approximately $340,000. Hedge funds and other 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.