Applied Optoelectronics (NASDAQ:AAOI) Trading Up 7.3% - Time to Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report)'s stock price rose 7.3% during mid-day trading on Wednesday . The company traded as high as $16.12 and last traded at $16.19. Approximately 1,253,490 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 4,014,631 shares. The stock had previously closed at $15.09.

Analyst Ratings Changes

AAOI has been the topic of a number of recent research reports. B. Riley raised Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price objective on the stock in a research report on Friday, March 7th. Raymond James lifted their price objective on shares of Applied Optoelectronics to $31.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a research report on Wednesday, February 26th. Northland Securities reaffirmed an "outperform" rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $36.00 price objective on shares of Applied Optoelectronics in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $25.80.

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Applied Optoelectronics Stock Up 4.0 %

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The business's fifty day moving average price is $22.17 and its two-hundred day moving average price is $25.38. The stock has a market capitalization of $559.83 million, a PE ratio of -5.45 and a beta of 2.57.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. The firm had revenue of $100.27 million during the quarter, compared to analyst estimates of $99.92 million. On average, equities research analysts forecast that Applied Optoelectronics, Inc. will post -1.18 EPS for the current fiscal year.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the sale, the chief financial officer now owns 212,129 shares in the company, valued at approximately $6,728,731.88. This represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard B. Black sold 10,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the director now directly owns 157,813 shares in the company, valued at $4,576,577. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,298 shares of company stock worth $543,821 over the last 90 days. 4.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Applied Optoelectronics

A number of large investors have recently bought and sold shares of AAOI. Charles Schwab Investment Management Inc. grew its position in shares of Applied Optoelectronics by 2.9% in 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 during the period. The Manufacturers Life Insurance Company boosted 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 last quarter. FMR LLC grew its holdings in shares of Applied Optoelectronics by 3,290.6% in the third 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 during the period. MetLife Investment Management LLC raised its stake in Applied Optoelectronics by 129.1% during the third quarter. MetLife Investment Management LLC now owns 21,565 shares of the semiconductor company's stock worth $309,000 after purchasing an additional 12,151 shares during the period. Finally, State Street Corp grew its stake in shares of Applied Optoelectronics by 27.7% in the 3rd quarter. State Street Corp now owns 887,259 shares of the semiconductor company's stock valued at $12,697,000 after buying an additional 192,308 shares during the period. Institutional investors and hedge funds own 61.72% of the company's stock.

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.