Applied Optoelectronics (NASDAQ:AAOI) Trading 9.2% Higher – Time to Buy?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) traded up 9.2% during mid-day trading on Tuesday . The company traded as high as $26.37 and last traded at $26.79. 2,472,451 shares were traded during trading, a decline of 19% from the average session volume of 3,059,058 shares. The stock had previously closed at $24.54.

Analysts Set New Price Targets

AAOI has been the subject of a number of recent analyst reports. B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a research note on Tuesday, December 10th. Rosenblatt Securities raised their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research report on Wednesday, January 22nd. Raymond James raised their price objective on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Finally, Northland Securities reiterated an “outperform” rating and issued a $40.00 target price (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Stock Up 5.8 %

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 business has a 50 day simple moving average of $34.51 and a 200 day simple moving average of $21.41. The stock has a market cap of $1.32 billion, a PE ratio of -13.63 and a beta of 2.39.

Insider Activity at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $26.93, for a total transaction of $269,300.00. Following the transaction, the insider now owns 118,122 shares of the company’s stock, valued at approximately $3,181,025.46. This represents a 7.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stefan J. Murry sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total value of $157,800.00. Following the completion of the transaction, the chief financial officer now directly owns 216,129 shares in the company, valued at $6,821,031.24. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,067 shares of company stock valued at $3,513,238. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Applied Optoelectronics

Several large investors have recently modified their holdings of AAOI. Westfield Capital Management Co. LP bought a new position in Applied Optoelectronics in the 3rd quarter worth approximately $19,019,000. Whale Rock Capital Management LLC acquired a new stake in shares of Applied Optoelectronics in the third quarter worth $16,145,000. Royce & Associates LP increased its position in Applied Optoelectronics by 47.7% during the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock worth $22,847,000 after acquiring an additional 515,489 shares during the period. JAT Capital Mgmt LP acquired a new position in Applied Optoelectronics during the 3rd quarter valued at $6,470,000. Finally, Assenagon Asset Management S.A. bought a new stake in Applied Optoelectronics in the 4th quarter valued at $12,731,000. 61.72% of the stock is owned by institutional investors.

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.