Kovack Advisors Inc. bought a new position in Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 54,500 shares of the semiconductor company's stock, valued at approximately $780,000. Kovack Advisors Inc. owned 0.13% of Applied Optoelectronics at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co purchased a new stake in Applied Optoelectronics in the first quarter worth about $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Applied Optoelectronics in the second quarter worth $89,000. Truvestments Capital LLC bought a new position in Applied Optoelectronics in the first quarter worth $161,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Applied Optoelectronics during the third quarter valued at $186,000. Institutional investors own 61.72% of the company's stock.
Applied Optoelectronics Stock Performance
NASDAQ:AAOI traded up $0.89 on Thursday, hitting $28.15. The stock had a trading volume of 4,174,390 shares, compared to its average volume of 2,591,313. Applied Optoelectronics, Inc. has a 52-week low of $6.70 and a 52-week high of $29.17. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -13.67 and a beta of 1.96. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The business's 50-day simple moving average is $16.86 and its two-hundred day simple moving average is $12.26.
Wall Street Analyst Weigh In
AAOI has been the subject of several research reports. B. Riley Financial reiterated a "neutral" rating and issued a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. B. Riley decreased their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. Rosenblatt Securities boosted their price target on Applied Optoelectronics from $20.00 to $27.50 and gave the stock a "buy" rating in a research report on Friday, November 8th. Northland Securities raised their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, StockNews.com raised Applied Optoelectronics to a "sell" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.70.
Get Our Latest Report on Applied Optoelectronics
Insider Buying and Selling
In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $26.93, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.40% of the stock is currently owned by insiders.
Applied Optoelectronics Company Profile
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Free Report)
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.
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