Applied Optoelectronics (NASDAQ:AAOI) Sees Large Volume Increase – Here’s Why

Applied Optoelectronics, Inc. (NASDAQ:AAOIGet Free Report) saw strong trading volume on Thursday . 2,289,524 shares were traded during trading, a decline of 12% from the previous session’s volume of 2,613,313 shares.The stock last traded at $37.80 and had previously closed at $34.07.

Wall Street Analyst Weigh In

AAOI has been the topic of several recent research reports. Northland Securities upped their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. B. Riley Financial restated a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a report on Thursday, August 8th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Raymond James upped their price objective 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. Finally, Rosenblatt Securities lifted their target price on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a research note on Friday, November 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. Based on data from MarketBeat.com, Applied Optoelectronics currently has an average rating of “Hold” and a consensus target price of $18.70.

Check Out Our Latest Report on Applied Optoelectronics

Applied Optoelectronics Stock Up 7.0 %

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 market cap of $1.71 billion, a price-to-earnings ratio of -18.44 and a beta of 1.96. The firm’s 50-day moving average is $19.08 and its 200 day moving average is $13.15.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, Director Elizabeth G. Loboa sold 13,494 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $36.54, for a total transaction of $493,070.76. Following the transaction, the director now owns 124,500 shares in the company, valued at $4,549,230. The trade was a 9.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.35, for a total value of $616,803.05. Following the completion of the sale, the insider now owns 195,572 shares of the company’s stock, valued at approximately $5,935,610.20. This trade represents a 9.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $1,687,174 in the last ninety days. Insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

A number of hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Applied Optoelectronics by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock valued at $210,000 after purchasing an additional 483 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Applied Optoelectronics by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock valued at $1,557,000 after buying an additional 3,081 shares during the last quarter. Truvestments Capital LLC grew its stake in shares of Applied Optoelectronics by 24.3% during the third quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock valued at $227,000 after acquiring an additional 3,097 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Applied Optoelectronics during the first quarter worth about $46,000. Finally, Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics in the third quarter worth about $82,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About Applied Optoelectronics

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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.

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