Applied Optoelectronics (NASDAQ:AAOI) Shares Up 8.3%

Shares of Applied Optoelectronics Inc (NASDAQ:AAOI) shot up 8.3% during trading on Wednesday . The stock traded as high as $12.48 and last traded at $12.46, 995,245 shares traded hands during mid-day trading. An increase of 15% from the average session volume of 863,570 shares. The stock had previously closed at $11.51.

Several brokerages have recently commented on AAOI. BidaskClub upgraded shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Friday. Rosenblatt Securities upgraded shares of Applied Optoelectronics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $13.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered shares of Applied Optoelectronics from a “neutral” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a report on Tuesday, October 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $11.58.

The firm’s 50 day moving average is $12.62 and its two-hundred day moving average is $10.93. The stock has a market capitalization of $250.29 million, a PE ratio of -6.04 and a beta of 2.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.68 and a current ratio of 2.96.

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in Applied Optoelectronics by 0.8% during the 3rd quarter. State Street Corp now owns 548,152 shares of the semiconductor company’s stock worth $6,150,000 after buying an additional 4,235 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Applied Optoelectronics by 27.2% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 6,430 shares of the semiconductor company’s stock worth $72,000 after buying an additional 1,375 shares during the period. Invesco Ltd. increased its stake in Applied Optoelectronics by 12.1% during the 2nd quarter. Invesco Ltd. now owns 122,190 shares of the semiconductor company’s stock worth $1,256,000 after buying an additional 13,222 shares during the period. California Public Employees Retirement System increased its stake in Applied Optoelectronics by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 116,600 shares of the semiconductor company’s stock worth $1,308,000 after buying an additional 6,400 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Applied Optoelectronics by 76.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,637 shares of the semiconductor company’s stock worth $30,000 after buying an additional 1,141 shares during the period. 61.49% of the stock is currently owned by hedge funds and other institutional investors.

About Applied Optoelectronics (NASDAQ:AAOI)

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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