Applied Optoelectronics (NASDAQ:AAOI) Stock Price Up 5.9% – Should You Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) traded up 5.9% during trading on Tuesday . The stock traded as high as $16.09 and last traded at $15.82. 339,450 shares were traded during mid-day trading, a decline of 86% from the average session volume of 2,428,796 shares. The stock had previously closed at $14.94.

Wall Street Analyst Weigh In

AAOI has been the subject of several research reports. B. Riley decreased their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. B. Riley Financial reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Rosenblatt Securities increased their price objective on shares of Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research note on Tuesday, September 3rd. Finally, StockNews.com raised Applied Optoelectronics to a “sell” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.75.

Applied Optoelectronics Trading Up 12.3 %

The business has a fifty day simple moving average of $11.26 and a 200 day simple moving average of $10.95. The stock has a market capitalization of $652.88 million, a price-to-earnings ratio of -9.17 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.01. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The business had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. During the same quarter in the previous year, the company earned ($0.31) EPS. The business’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts expect that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total value of $150,200.00. Following the completion of the transaction, the insider now directly owns 132,921 shares of the company’s stock, valued at $1,996,473.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics during the first quarter worth $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Applied Optoelectronics in the second quarter valued at about $89,000. Truvestments Capital LLC acquired a new position in Applied Optoelectronics during the first quarter worth about $161,000. Finally, Summit Securities Group LLC acquired a new position in Applied Optoelectronics during the second quarter worth about $109,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Applied Optoelectronics Company Profile

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.