Applied Optoelectronics (NASDAQ:AAOI) Shares Up 7.8% - What's Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares traded up 7.8% on Wednesday . The stock traded as high as $30.68 and last traded at $29.97. 1,304,218 shares traded hands during trading, a decline of 49% from the average session volume of 2,551,551 shares. The stock had previously closed at $27.79.

Analysts Set New Price Targets

A number of brokerages have issued reports on AAOI. StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a report on Friday, January 3rd. Raymond James lifted their price objective on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Rosenblatt Securities raised their price target on Applied Optoelectronics from $27.50 to $44.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Northland Securities reiterated an "outperform" rating and issued a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Finally, B. Riley downgraded shares of Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 target price for the company. in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.20.

Applied Optoelectronics Trading Up 12.2 %

The business has a 50-day moving average of $33.91 and a 200 day moving average of $19.80. The stock has a market cap of $1.46 billion, a PE ratio of -15.14 and a beta of 2.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, Director Min-Chu (Mike) Chen sold 9,790 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $40.00, for a total transaction of $391,600.00. Following the transaction, the director now owns 165,054 shares of the company's stock, valued at $6,602,160. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction on Friday, November 8th. The shares were 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 directly owns 118,122 shares of the company's stock, valued at approximately $3,181,025.46. This represents a 7.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,769 shares of company stock worth $3,015,537 over the last ninety days. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Several large investors have recently added to or reduced their stakes in AAOI. Royce & Associates LP increased its stake in shares of Applied Optoelectronics by 47.7% during 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. Westfield Capital Management Co. LP acquired a new position in Applied Optoelectronics during the third quarter worth approximately $19,019,000. Whale Rock Capital Management LLC acquired a new position in Applied Optoelectronics during the third quarter worth approximately $16,145,000. Shellback Capital LP purchased a new position in Applied Optoelectronics during the second quarter worth approximately $8,617,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Applied Optoelectronics by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company's stock valued at $13,018,000 after purchasing an additional 60,241 shares during the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.