Applied Optoelectronics (NASDAQ:AAOI) Stock Price Up 8% – Should You Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price traded up 8% during mid-day trading on Friday . The company traded as high as $38.33 and last traded at $38.33. 2,863,359 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 2,632,559 shares. The stock had previously closed at $35.50.

Analysts Set New Price Targets

A number of research firms have issued reports on AAOI. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Northland Securities boosted their price target on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Raymond James increased their price objective on Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. B. Riley reduced their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley Financial reaffirmed a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.70.

Applied Optoelectronics Price Performance

The stock has a market cap of $1.71 billion, a PE ratio of -18.44 and a beta of 1.96. The business has a fifty day simple moving average of $19.08 and a two-hundred day simple moving average of $13.16. 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 Buying and Selling

In other news, CFO Stefan J. Murry sold 5,000 shares of Applied Optoelectronics stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total transaction 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 approximately $6,821,031.24. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David C. Kuo sold 10,000 shares of the company’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 $3,181,025.46. The trade was a 7.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $1,687,174 over the last ninety days. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Applied Optoelectronics in the first quarter worth $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares in the last quarter. Pingora Partners LLC purchased a new stake in Applied Optoelectronics during the 3rd quarter valued at about $82,000. FMR LLC increased its stake in Applied Optoelectronics by 3,290.6% during the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 5,956 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics in the second quarter worth about $89,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.