Applied Optoelectronics (NASDAQ:AAOI) Trading Up 9.2% – Here’s What Happened

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

Analyst Upgrades and Downgrades

AAOI has been the subject of several recent research reports. 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 note on Friday, December 13th. Raymond James increased their price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Northland Securities reissued an “outperform” rating and set a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective on the stock. in a report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Wednesday, January 22nd. Two investment 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 MarketBeat.com, Applied Optoelectronics has a consensus rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Price Performance

The firm has a market cap of $1.25 billion, a P/E ratio of -12.95 and a beta of 2.39. The company has a fifty day moving average price of $34.85 and a two-hundred day moving average price of $21.21. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Insider Activity at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 2,298 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total value of $80,820.66. Following the transaction, the chief financial officer now directly owns 209,831 shares of the company’s stock, valued at $7,379,756.27. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 of the company’s stock, valued at $3,181,025.46. This trade represents a 7.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,067 shares of company stock valued at $3,513,238. 5.40% of the stock is owned by insiders.

Institutional Trading of Applied Optoelectronics

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in Applied Optoelectronics by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock valued at $210,000 after purchasing an additional 483 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 worth $1,557,000 after buying an additional 3,081 shares during the last quarter. Truvestments Capital LLC boosted its position in shares of Applied Optoelectronics by 24.3% during the 3rd 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 in the last quarter. Pingora Partners LLC acquired a new position in Applied Optoelectronics in the third quarter valued at approximately $82,000. Finally, FMR LLC increased its stake in shares of Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 5,956 shares in the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

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.