Applied Optoelectronics (NASDAQ:AAOI) Hits New 12-Month High – What’s Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $29.38 and last traded at $28.91, with a volume of 1836774 shares traded. The stock had previously closed at $26.80.

Analyst Ratings Changes

Several analysts have weighed in on AAOI shares. Raymond James boosted their price objective on Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Northland Securities boosted their price target on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley dropped their price target on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, B. Riley Financial restated a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 8th. One 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. According to MarketBeat.com, Applied Optoelectronics has a consensus rating of “Hold” and a consensus target price of $18.70.

Applied Optoelectronics Trading Up 1.9 %

The firm has a fifty day moving average of $17.16 and a two-hundred day moving average of $12.41. The company has a market cap of $1.23 billion, a PE ratio of -14.12 and a beta of 1.96. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Insider Buying and Selling

In related news, insider David C. Kuo sold 10,000 shares of the company’s stock in a transaction 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 in the company, valued at $3,181,025.46. This represents a 7.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co bought a new stake in shares of Applied Optoelectronics in the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after buying an additional 6,787 shares during the last quarter. Pingora Partners LLC bought a new stake in shares of Applied Optoelectronics during the 3rd quarter valued at about $82,000. FMR LLC raised its position in Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 5,956 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics during the second quarter valued at $89,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.