Applied Optoelectronics (NASDAQ:AAOI) Reaches New 1-Year High – Here’s What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price reached a new 52-week high during mid-day 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 Upgrades and Downgrades

AAOI has been the subject of several recent analyst reports. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. B. Riley reduced their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Rosenblatt Securities upped their target price on Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a report on Friday, November 8th. Northland Securities increased their price objective on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Raymond James boosted their target price on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.70.

Applied Optoelectronics Price Performance

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 stock has a 50-day simple moving average of $17.16 and a 200 day simple 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.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics 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 transaction, the insider now directly owns 118,122 shares of the company’s stock, valued at $3,181,025.46. The trade was a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAOI. Vanguard Group Inc. increased its stake in shares of Applied Optoelectronics by 29.2% in the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock valued at $27,089,000 after purchasing an additional 442,277 shares during the period. Royce & Associates LP lifted its stake in shares of Applied Optoelectronics by 47.7% in the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock valued at $22,847,000 after purchasing an additional 515,489 shares during the last quarter. Hood River Capital Management LLC grew its stake in Applied Optoelectronics by 6.5% in the 1st quarter. Hood River Capital Management LLC now owns 1,439,404 shares of the semiconductor company’s stock valued at $19,950,000 after buying an additional 88,281 shares during the last quarter. Whale Rock Capital Management LLC raised its stake in Applied Optoelectronics by 30.0% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,333,957 shares of the semiconductor company’s stock valued at $18,489,000 after purchasing an additional 308,172 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Applied Optoelectronics in the third quarter worth $19,019,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.