Applied Optoelectronics (NASDAQ:AAOI) Reaches New 12-Month High Following Analyst Upgrade

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) reached a new 52-week high during trading on Monday after Rosenblatt Securities raised their price target on the stock from $20.00 to $27.50. Rosenblatt Securities currently has a buy rating on the stock. Applied Optoelectronics traded as high as $28.83 and last traded at $28.83, with a volume of 198813 shares traded. The stock had previously closed at $27.76.

Several other research firms have also commented on AAOI. B. Riley Financial reiterated a "neutral" rating and set a $9.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 8th. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a research note on Friday, October 25th. Northland Securities boosted their price objective on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an "outperform" rating in a research note on Friday. Raymond James boosted their price objective on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, B. Riley dropped their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $18.70.

Insider Activity

In other news, insider David C. Kuo sold 10,000 shares of the company's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total value of $150,200.00. Following the sale, the insider now directly owns 132,921 shares of the company's stock, valued at $1,996,473.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.40% of the company's stock.

Institutional Trading of Applied Optoelectronics

Several large investors have recently made changes to their positions in the business. Royce & Associates LP boosted its holdings in shares of Applied Optoelectronics by 47.7% in the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company's stock valued at $22,847,000 after acquiring an additional 515,489 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at $780,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at $186,000. Emerald Advisers LLC boosted its holdings in shares of Applied Optoelectronics by 2.7% in the 3rd quarter. Emerald Advisers LLC now owns 526,458 shares of the semiconductor company's stock valued at $7,534,000 after acquiring an additional 13,737 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at $1,319,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Applied Optoelectronics Price Performance

The stock has a market capitalization of $1.16 billion, a PE ratio of -15.09 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The stock's fifty day moving average is $15.59 and its 200-day moving average is $11.80.

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.