Applied Optoelectronics (NASDAQ:AAOI) Reaches New 52-Week High on Analyst Upgrade

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) hit a new 52-week high during mid-day trading on Monday after Rosenblatt Securities raised their price target on the stock from $20.00 to $27.50. Rosenblatt Securities currently has a buy rating on the stock. Applied Optoelectronics traded as high as $28.83 and last traded at $28.83, with a volume of 198813 shares traded. The stock had previously closed at $27.76.

A number of other equities analysts have also recently issued reports on AAOI. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Raymond James lifted their target price on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. B. Riley cut their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. B. Riley Financial reaffirmed a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, Northland Securities boosted their price objective on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.70.

Insider Transactions at Applied Optoelectronics

In related news, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $26.93, for a total value of $269,300.00. Following the completion of the transaction, the insider now directly owns 118,122 shares of the company’s stock, valued at approximately $3,181,025.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in 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 buying an additional 442,277 shares during the period. AQR Capital Management LLC raised its stake in Applied Optoelectronics by 90.7% in the 2nd quarter. AQR Capital Management LLC now owns 75,981 shares of the semiconductor company’s stock valued at $630,000 after acquiring an additional 36,138 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Applied Optoelectronics during the 3rd quarter valued at $1,319,000. Bank of New York Mellon Corp bought a new position in Applied Optoelectronics during the second quarter worth $956,000. Finally, Swiss National Bank acquired a new position in shares of Applied Optoelectronics in the first quarter valued at $1,123,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Applied Optoelectronics Price Performance

The company’s 50-day moving average price is $16.26 and its two-hundred day moving average price is $12.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The company has a market capitalization of $1.17 billion, a P/E ratio of -13.85 and a beta of 1.96.

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.