Applied Optoelectronics (NASDAQ:AAOI) Sets New 52-Week High After Analyst Upgrade

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 trading hands. The stock had previously closed at $27.76.

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

Insider Transactions at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total value of $150,200.00. Following the transaction, the insider now directly owns 132,921 shares in the company, valued at approximately $1,996,473.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds have recently added to or reduced their stakes in AAOI. CANADA LIFE ASSURANCE Co acquired a new stake in Applied Optoelectronics during the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after buying an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Applied Optoelectronics during the 2nd quarter worth approximately $89,000. Summit Securities Group LLC acquired a new stake in Applied Optoelectronics during the 2nd quarter worth approximately $109,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Applied Optoelectronics during the 2nd quarter worth approximately $118,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Applied Optoelectronics Stock Performance

The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -13.73 and a beta of 1.96. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $15.93 and its 200-day simple moving average is $11.92.

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.