Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up – Time to Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $31.03, but opened at $33.21. Applied Optoelectronics shares last traded at $32.27, with a volume of 1,226,045 shares.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAOI. Rosenblatt Securities upped their target price on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, December 13th. B. Riley downgraded Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, December 10th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Wednesday. Northland Securities restated an “outperform” rating and set a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Finally, Raymond James lifted their price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.20.

Applied Optoelectronics Trading Up 10.4 %

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 firm has a fifty day moving average price of $34.75 and a two-hundred day moving average price of $20.69.

Insider Buying and Selling at Applied Optoelectronics

In related news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the completion of the sale, the insider now owns 118,122 shares in the company, valued at approximately $3,181,025.46. The trade was a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stefan J. Murry sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $31.56, for a total value of $157,800.00. Following the transaction, the chief financial officer now 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. Insiders have sold 100,769 shares of company stock valued at $3,432,417 in the last quarter. 5.40% of the stock is owned by insiders.

Institutional Trading of Applied Optoelectronics

A number of hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in Applied Optoelectronics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock valued at $210,000 after buying an additional 483 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Applied Optoelectronics by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock valued at $1,557,000 after purchasing an additional 3,081 shares in the last quarter. Truvestments Capital LLC grew its stake in Applied Optoelectronics by 24.3% in the third quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 3,097 shares during the last quarter. Pingora Partners LLC bought a new position in Applied Optoelectronics in the third quarter worth about $82,000. Finally, FMR LLC lifted its position in shares of Applied Optoelectronics by 3,290.6% during the third 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. 61.72% of the stock is owned by hedge funds and other 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.