Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up - Still a Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $34.48, but opened at $37.45. Applied Optoelectronics shares last traded at $37.95, with a volume of 1,345,511 shares.

Analysts Set New Price Targets

AAOI has been the subject of several research analyst reports. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a report on Friday, October 25th. Raymond James lifted their target price on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Rosenblatt Securities lifted their target price on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Northland Securities lifted their target price on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an "outperform" rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $18.70.

Applied Optoelectronics Stock Up 12.8 %

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The company's 50-day moving average is $24.02 and its two-hundred day moving average is $15.08.

Insiders Place Their Bets

In other news, Director William H. Yeh sold 10,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the sale, the director now owns 223,538 shares of the company's stock, valued at $9,630,017.04. The trade was a 4.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Min-Chu (Mike) Chen sold 9,790 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $40.00, for a total transaction of $391,600.00. Following the sale, the director now directly owns 165,054 shares of the company's stock, valued at approximately $6,602,160. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,769 shares of company stock valued at $2,813,037. Company insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its position in shares of Applied Optoelectronics by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company's stock valued at $210,000 after acquiring an additional 483 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Applied Optoelectronics by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company's stock valued at $1,557,000 after buying an additional 3,081 shares in the last quarter. Truvestments Capital LLC lifted its stake 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 buying an additional 3,097 shares in the last quarter. Pingora Partners LLC purchased a new position in shares of Applied Optoelectronics during the 3rd quarter valued at $82,000. Finally, FMR LLC lifted its stake in shares of 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 buying an additional 5,956 shares in the last quarter. 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.