Applied Optoelectronics (NASDAQ:AAOI) Trading Up 14.3% - Time to Buy?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) rose 14.3% during mid-day trading on Tuesday . The company traded as high as $12.75 and last traded at $12.84. Approximately 1,068,778 shares changed hands during trading, a decline of 74% from the average daily volume of 4,101,324 shares. The stock had previously closed at $11.23.

Wall Street Analyst Weigh In

AAOI has been the subject of a number of research reports. 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 report on Wednesday, December 18th. B. Riley raised Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 target price for the company in a research note on Friday, March 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $36.00 price target on shares of Applied Optoelectronics in a report on Friday, March 14th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research report on Wednesday, February 26th. Finally, Raymond James upped their target price on shares of Applied Optoelectronics to $31.00 and gave the company a "buy" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $25.80.

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Applied Optoelectronics Stock Down 3.8 %

The firm has a market cap of $562.32 million, a P/E ratio of -5.48 and a beta of 2.57. The firm's 50 day moving average is $20.10 and its two-hundred day moving average is $25.10. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

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

Insider Activity at Applied Optoelectronics

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

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Corebridge Financial Inc. grew its stake in shares of Applied Optoelectronics by 2.4% during the 4th quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company's stock worth $747,000 after acquiring an additional 471 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Applied Optoelectronics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company's stock worth $210,000 after purchasing an additional 483 shares during the last quarter. Arizona State Retirement System grew its position 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 in the last quarter. Summit Investment Advisors Inc. increased its stake in Applied Optoelectronics by 17.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company's stock valued at $157,000 after buying an additional 637 shares during the last quarter. Finally, Virtu Financial LLC lifted its position in Applied Optoelectronics by 3.6% during the 4th quarter. Virtu Financial LLC now owns 25,529 shares of the semiconductor company's stock worth $941,000 after buying an additional 895 shares in the last quarter. 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.