Applied Optoelectronics (NASDAQ:AAOI) Hits New 52-Week High – What’s Next?

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on AAOI. Raymond James lifted their price objective on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Rosenblatt Securities lifted their target price on Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a report on Friday, November 8th. B. Riley decreased 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. Northland Securities lifted their price target on Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, B. Riley Financial reaffirmed a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Optoelectronics currently has a consensus rating of “Hold” and an average target price of $18.70.

Applied Optoelectronics Price Performance

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

Insider Activity

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

Institutional Trading of Applied Optoelectronics

Institutional investors and hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co acquired a new stake in Applied Optoelectronics in the 1st quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 6,787 shares in the last quarter. Pingora Partners LLC acquired a new stake in shares of Applied Optoelectronics during the third quarter valued at about $82,000. FMR LLC grew its stake in shares of Applied Optoelectronics by 3,290.6% during the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 5,956 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at about $89,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.