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

Applied Optoelectronics, Inc. (NASDAQ:AAOI) 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.

Several other equities analysts also recently commented on AAOI. Raymond James upped their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Northland Securities boosted their price target on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley reduced their price target on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley Financial reiterated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a research 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.70.

Insider Activity at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction on Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the transaction, the insider now owns 118,122 shares in the company, valued at approximately $3,181,025.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co bought a new position in Applied Optoelectronics in the 1st quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of 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 acquiring an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter valued at $89,000. Summit Securities Group LLC bought a new stake in Applied Optoelectronics during the 2nd quarter worth $109,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Applied Optoelectronics in the 2nd quarter worth about $118,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Applied Optoelectronics Stock Up 0.9 %

The stock has a market capitalization of $1.17 billion, a P/E ratio of -13.85 and a beta of 1.96. 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 firm has a 50-day simple moving average of $16.26 and a 200 day simple moving average of $12.05.

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.