Applied Optoelectronics (NASDAQ:AAOI) Sets New 52-Week High – Time to Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.88 and last traded at $43.27, with a volume of 820790 shares trading hands. The stock had previously closed at $41.22.

Wall Street Analyst Weigh In

Several research firms have recently commented on AAOI. Northland Securities lifted their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Raymond James increased 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. B. Riley decreased their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley Financial reissued a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Applied Optoelectronics has a consensus rating of “Hold” and a consensus price target of $18.70.

Applied Optoelectronics Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a 50-day moving average price of $22.03 and a two-hundred day moving average price of $14.34.

Insider Buying and Selling at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 5,000 shares of Applied Optoelectronics stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total transaction of $157,800.00. Following the sale, the chief financial officer now owns 216,129 shares of the company’s stock, valued at approximately $6,821,031.24. The trade was a 2.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William H. Yeh sold 10,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the transaction, the director now directly owns 223,538 shares of the company’s stock, valued at approximately $9,630,017.04. The trade was a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,769 shares of company stock valued at $2,813,037. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 valued at $27,089,000 after buying an additional 442,277 shares during the period. Janus Henderson Group PLC purchased a new position in Applied Optoelectronics during the 1st quarter valued at about $386,000. California State Teachers Retirement System purchased a new position in Applied Optoelectronics during the 1st quarter valued at about $511,000. Bank of New York Mellon Corp bought a new stake in Applied Optoelectronics during the second quarter worth about $956,000. Finally, Summit Securities Group LLC purchased a new stake in Applied Optoelectronics in the second quarter worth about $109,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

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.