Applied Optoelectronics (NASDAQ:AAOI) Stock Price Up 12% – What’s Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shares were up 12% during trading on Wednesday . The stock traded as high as $26.68 and last traded at $26.13. Approximately 1,591,988 shares traded hands during trading, a decline of 52% from the average daily volume of 3,316,894 shares. The stock had previously closed at $23.34.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAOI. B. Riley cut Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a research note on Tuesday, December 10th. Raymond James upped their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, January 31st. Rosenblatt Securities reissued a “buy” rating and set a $44.00 price objective on shares of Applied Optoelectronics in a report on Monday. Finally, Northland Securities restated an “outperform” rating and issued a $40.00 target price (up previously from $25.00) on shares of Applied Optoelectronics in a 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 issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.20.

Applied Optoelectronics Stock Up 10.5 %

The company’s 50-day moving average price is $30.99 and its 200 day moving average price is $23.91. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The stock has a market cap of $1.21 billion, a PE ratio of -12.54 and a beta of 2.36.

Insider Buying and Selling at Applied Optoelectronics

In other news, Director Min-Chu (Mike) Chen sold 9,790 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $40.00, for a total value of $391,600.00. Following the transaction, the director now directly owns 165,054 shares in the company, valued at $6,602,160. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value 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 trade represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,088 shares of company stock valued at $1,672,801. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Applied Optoelectronics in the third quarter worth $303,000. Rice Hall James & Associates LLC lifted its position in shares of Applied Optoelectronics by 75.8% in the third quarter. Rice Hall James & Associates LLC now owns 235,763 shares of the semiconductor company’s stock worth $3,374,000 after buying an additional 101,640 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Applied Optoelectronics by 2.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company’s stock valued at $5,869,000 after buying an additional 11,037 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Applied Optoelectronics in the 3rd quarter worth approximately $1,319,000. Finally, Emerald Advisers LLC boosted its position in shares of Applied Optoelectronics by 2.7% during the 3rd quarter. Emerald Advisers LLC now owns 526,458 shares of the semiconductor company’s stock valued at $7,534,000 after acquiring an additional 13,737 shares during the last quarter. 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.