Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up – Here’s What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI) gapped up prior to trading on Friday . The stock had previously closed at $36.42, but opened at $37.64. Applied Optoelectronics shares last traded at $40.12, with a volume of 685,265 shares.

Wall Street Analyst Weigh In

AAOI has been the topic of several analyst reports. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Northland Securities increased their target price on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. B. Riley cut their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Raymond James upped their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, B. Riley Financial reissued a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 8th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.70.

Applied Optoelectronics Stock Up 15.5 %

The stock’s fifty day moving average price is $20.95 and its 200 day moving average price is $13.87. 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 stock has a market cap of $1.90 billion, a P/E ratio of -20.60 and a beta of 1.96.

Insider Buying and Selling at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 118,122 shares in the company, valued at approximately $3,181,025.46. The trade was a 7.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stefan J. Murry sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total transaction of $157,800.00. Following the transaction, the chief financial officer now directly owns 216,129 shares in the company, valued at approximately $6,821,031.24. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $1,687,174 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Applied Optoelectronics by 29.2% in the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock valued at $27,089,000 after acquiring an additional 442,277 shares during the last quarter. Royce & Associates LP lifted its position in Applied Optoelectronics by 47.7% in the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock valued at $22,847,000 after purchasing an additional 515,489 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Applied Optoelectronics in the third quarter valued at approximately $19,019,000. Whale Rock Capital Management LLC purchased a new stake in shares of Applied Optoelectronics during the third quarter valued at approximately $16,145,000. Finally, Shellback Capital LP bought a new position in shares of Applied Optoelectronics in the second quarter worth approximately $8,617,000. 61.72% of the stock is owned by institutional investors.

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.