Applied Optoelectronics (NASDAQ:AAOI) Sets New 52-Week High – Here’s What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.94 and last traded at $38.94, with a volume of 58727 shares changing hands. The stock had previously closed at $37.99.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AAOI shares. Rosenblatt Securities increased their price objective on Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a research report on Friday, November 8th. B. Riley reduced their target price on 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 reiterated a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. Raymond James increased 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. Finally, Northland Securities increased their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.70.

Applied Optoelectronics Trading Up 3.4 %

The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -18.82 and a beta of 1.96. The company has a 50-day moving average price of $19.08 and a 200-day moving average price of $13.17. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36.

Insider Activity

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 5,000 shares of Applied Optoelectronics stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total transaction of $157,800.00. Following the completion of the sale, the chief financial officer now owns 216,129 shares of the company’s stock, valued at approximately $6,821,031.24. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth G. Loboa sold 13,494 shares of Applied Optoelectronics stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $36.54, for a total transaction of $493,070.76. Following the sale, the director now directly owns 124,500 shares of the company’s stock, valued at $4,549,230. This represents a 9.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,817 shares of company stock worth $1,687,174. Insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Applied Optoelectronics in the 3rd quarter valued at $353,000. Barclays PLC lifted its position in Applied Optoelectronics by 37.4% in the 3rd quarter. Barclays PLC now owns 56,920 shares of the semiconductor company’s stock valued at $815,000 after acquiring an additional 15,507 shares in the last quarter. Geode Capital Management LLC lifted its position in Applied Optoelectronics by 7.1% in 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 in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Applied Optoelectronics in the 3rd quarter valued at $340,000. Finally, XTX Topco Ltd bought a new stake in Applied Optoelectronics in the 3rd quarter valued at $1,109,000. Institutional investors and hedge funds 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.