Applied Optoelectronics (NASDAQ:AAOI) Sets New 12-Month High – Here’s What Happened

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on AAOI shares. B. Riley reduced their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. 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. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Raymond James increased their price target on Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities raised their target price on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.70.

Applied Optoelectronics Trading Up 19.3 %

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The business has a 50 day simple moving average of $17.77 and a two-hundred day simple moving average of $12.66. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -15.59 and a beta of 1.96.

Insider Buying and Selling

In other news, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was 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 $3,181,025.46. This trade represents a 7.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Applied Optoelectronics

Several institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Applied Optoelectronics during the 3rd quarter valued at $353,000. Barclays PLC raised its holdings in Applied Optoelectronics by 37.4% during the 3rd quarter. Barclays PLC now owns 56,920 shares of the semiconductor company’s stock worth $815,000 after purchasing an additional 15,507 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Applied Optoelectronics by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company’s stock valued at $13,018,000 after acquiring an additional 60,241 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Applied Optoelectronics during the 3rd quarter worth $340,000. Finally, XTX Topco Ltd acquired a new stake in shares of Applied Optoelectronics in the third quarter valued at approximately $1,109,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.