Applied Optoelectronics Inc (NASDAQ:AAOI) shares rose 6.8% during mid-day trading on Friday . The stock traded as high as $36.18 and last traded at $35.03. Approximately 2,502,678 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 1,354,854 shares. The stock had previously closed at $32.79.

AAOI has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 2nd. BWS Financial reaffirmed a “sell” rating on shares of Applied Optoelectronics in a research note on Monday, October 2nd. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $75.00 price objective (down previously from $115.00) on shares of Applied Optoelectronics in a research note on Thursday, October 12th. ValuEngine raised shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 14th. Finally, Cowen reaffirmed a “buy” rating and issued a $60.00 price objective (down previously from $74.00) on shares of Applied Optoelectronics in a research note on Thursday, December 7th. Five research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and four have given a strong buy rating to the stock. Applied Optoelectronics currently has an average rating of “Hold” and a consensus price target of $57.98.

The company has a market capitalization of $678.95, a P/E ratio of 8.44, a PEG ratio of 0.69 and a beta of 2.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.02 and a current ratio of 2.99.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.23). The company had revenue of $88.90 million for the quarter, compared to analyst estimates of $88.53 million. Applied Optoelectronics had a net margin of 21.29% and a return on equity of 32.35%. The company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. analysts anticipate that Applied Optoelectronics Inc will post 4.21 EPS for the current year.

In other Applied Optoelectronics news, Director Richard B. Black sold 1,000 shares of Applied Optoelectronics stock in a transaction on Thursday, November 9th. The shares were 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 owns 36,478 shares of the company’s stock, valued at approximately $1,568,554. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chih-Hsiang (Thompson) Lin sold 3,600 shares of Applied Optoelectronics stock in a transaction on Monday, November 20th. The shares were sold at an average price of $45.24, for a total transaction of $162,864.00. Following the sale, the insider now directly owns 522,837 shares of the company’s stock, valued at approximately $23,653,145.88. The disclosure for this sale can be found here. Insiders have sold a total of 7,900 shares of company stock valued at $340,554 in the last three months. Company insiders own 8.19% of the company’s stock.

Several large investors have recently modified their holdings of AAOI. Flinton Capital Management LLC acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $115,000. Citigroup Inc. lifted its stake in shares of Applied Optoelectronics by 96.2% in the 2nd quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 993 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $137,000. Pinebridge Investments L.P. acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $144,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $149,000. 76.67% of the stock is owned by institutional investors.

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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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