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

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price hit a new 52-week high during 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 changing hands. The stock had previously closed at $27.76.

Other equities research analysts also recently issued reports about the stock. B. Riley dropped their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Northland Securities increased their target price on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday. B. Riley Financial reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Finally, Raymond James raised their price objective on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.70.

Insider Transactions at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 132,921 shares in the company, valued at approximately $1,996,473.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

Several hedge funds have recently made changes to their positions in AAOI. BNP Paribas Financial Markets lifted its stake in shares of Applied Optoelectronics by 245.7% in the 1st quarter. BNP Paribas Financial Markets now owns 49,661 shares of the semiconductor company’s stock worth $688,000 after acquiring an additional 35,295 shares during the period. Swiss National Bank purchased a new stake in Applied Optoelectronics during the first quarter worth about $1,123,000. Vanguard Group Inc. boosted its holdings in Applied Optoelectronics by 29.2% during the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after buying an additional 442,277 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in Applied Optoelectronics during the first quarter worth about $46,000. Finally, Truvestments Capital LLC purchased a new stake in Applied Optoelectronics during the first quarter worth about $161,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Applied Optoelectronics Trading Up 1.9 %

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

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.