Applied Optoelectronics (NASDAQ:AAOI) Trading Up 6.9% - Still a Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares were up 6.9% during trading on Wednesday . The stock traded as high as $28.51 and last traded at $29.00. Approximately 678,734 shares traded hands during trading, a decline of 77% from the average daily volume of 2,949,168 shares. The stock had previously closed at $27.12.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AAOI. Rosenblatt Securities boosted their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the company a "buy" rating in a report on Friday, December 13th. B. Riley lowered shares of Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price target on the stock. in a research note on Tuesday, December 10th. StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a research note on Friday, January 31st. Raymond James upped their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday, December 20th. Finally, Northland Securities reissued an "outperform" rating and issued a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Applied Optoelectronics presently has an average rating of "Hold" and an average target price of $29.20.

Applied Optoelectronics Stock Down 2.5 %

The business's 50 day moving average is $33.35 and its 200-day moving average is $22.24. The company has a market cap of $1.39 billion, a PE ratio of -14.37 and a beta of 2.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06.

Insider Activity at Applied Optoelectronics

In other news, Director William H. Yeh sold 10,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the transaction, the director now directly owns 223,538 shares of the company's stock, valued at approximately $9,630,017.04. This represents a 4.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total value of $616,803.05. Following the sale, the insider now directly owns 195,572 shares in the company, valued at $5,935,610.20. This trade represents a 9.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,067 shares of company stock valued at $3,243,938 over the last quarter. 5.40% of the stock is owned by insiders.

Institutional Trading of Applied Optoelectronics

A number of hedge funds and other institutional investors have recently made changes to their positions in AAOI. Pingora Partners LLC acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at about $82,000. FMR LLC boosted 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 acquiring an additional 5,956 shares during the period. Chung Wu Investment Group LLC purchased a new position in shares of Applied Optoelectronics during the fourth quarter worth approximately $262,000. Arizona State Retirement System increased its stake in Applied Optoelectronics by 5.7% in the fourth quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company's stock valued at $415,000 after purchasing an additional 603 shares during the period. Finally, New York State Common Retirement Fund increased its position in Applied Optoelectronics by 131.5% in the 4th quarter. New York State Common Retirement Fund now owns 12,500 shares of the semiconductor company's stock valued at $461,000 after acquiring an additional 7,100 shares during the period. Institutional investors and hedge funds 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.