Applied Optoelectronics Inc (NASDAQ:AAOI) shares traded down 0% during trading on Tuesday . The stock traded as low as $35.10 and last traded at $35.54. 3,015,074 shares traded hands during mid-day trading, an increase of 148% from the average session volume of 1,215,420 shares. The stock had previously closed at $35.54.
Several research analysts have commented on the company. BWS Financial reissued a “sell” rating on shares of Applied Optoelectronics in a research report on Monday, October 2nd. Craig Hallum reissued a “buy” rating and issued a $80.00 price objective (down from $95.00) on shares of Applied Optoelectronics in a research report on Tuesday, October 3rd. Needham & Company LLC reissued a “strong-buy” rating and issued a $75.00 price objective (down from $115.00) on shares of Applied Optoelectronics in a research report on Thursday, October 12th. Cowen reissued an “outperform” rating and issued a $81.00 price objective (down from $102.00) on shares of Applied Optoelectronics in a research report on Friday, October 13th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $63.00 price objective on shares of Applied Optoelectronics in a research report on Friday, October 13th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and four have assigned a strong buy rating to the stock. Applied Optoelectronics presently has an average rating of “Hold” and an average price target of $57.98.
The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.02 and a current ratio of 2.99. The firm has a market cap of $693.11, a PE ratio of 8.56, a P/E/G ratio of 0.75 and a beta of 2.88.
In other news, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $43.00, for a total transaction of $43,000.00. Following the completion of the sale, the director now directly owns 36,478 shares in the company, valued at $1,568,554. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chih-Hsiang (Thompson) Lin sold 1,300 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $45.30, for a total value of $58,890.00. Following the sale, the chief executive officer now owns 522,837 shares of the company’s stock, valued at $23,684,516.10. The disclosure for this sale can be found here. Insiders have sold 6,900 shares of company stock valued at $305,184 over the last 90 days. Insiders own 8.19% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Flinton Capital Management LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at about $115,000. Citigroup Inc. grew its stake in shares of Applied Optoelectronics by 96.2% during the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 993 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at about $137,000. Pinebridge Investments L.P. acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at about $144,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at about $149,000. Institutional investors own 76.67% of the company’s stock.
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About Applied Optoelectronics
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.
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