Applied Optoelectronics (NASDAQ:AAOI) Shares Down 4.7% – Here’s Why

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price traded down 4.7% during trading on Tuesday . The company traded as low as $21.06 and last traded at $21.24. 431,774 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,918,738 shares. The stock had previously closed at $22.28.

Wall Street Analyst Weigh In

A number of analysts recently commented on AAOI shares. Northland Securities reissued an “outperform” rating and set a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. B. Riley upgraded Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a research report on Friday, March 7th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research note on Wednesday, February 26th. Raymond James boosted their price objective on shares of Applied Optoelectronics to $31.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $36.00 target price on shares of Applied Optoelectronics in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.80.

Applied Optoelectronics Stock Down 10.5 %

The firm has a 50-day simple moving average of $24.48 and a 200 day simple moving average of $25.23. The company has a market capitalization of $971.60 million, a PE ratio of -9.46 and a beta of 2.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06.

Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. The business had revenue of $100.27 million for the quarter, compared to analyst estimates of $99.92 million. On average, research analysts predict that Applied Optoelectronics, Inc. will post -1.18 EPS for the current fiscal year.

Insider Activity

In other news, CFO Stefan J. Murry sold 2,298 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total value of $80,820.66. Following the sale, the chief financial officer now owns 209,831 shares in the company, valued at approximately $7,379,756.27. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard B. Black sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the transaction, the director now directly owns 157,813 shares in the company, valued at approximately $4,576,577. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,298 shares of company stock worth $543,821. 4.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Applied Optoelectronics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in shares of Applied Optoelectronics in the 3rd quarter worth approximately $1,109,000. Virtu Financial LLC acquired a new stake in Applied Optoelectronics in the third quarter worth $353,000. Affinity Wealth Management LLC bought a new stake in Applied Optoelectronics in the fourth quarter valued at $7,965,000. State Street Corp boosted its holdings in shares of Applied Optoelectronics by 27.7% during the third quarter. State Street Corp now owns 887,259 shares of the semiconductor company’s stock valued at $12,697,000 after acquiring an additional 192,308 shares during the period. Finally, Emerald Advisers LLC grew its position in shares of Applied Optoelectronics by 15.3% during the fourth quarter. Emerald Advisers LLC now owns 606,997 shares of the semiconductor company’s stock worth $22,374,000 after acquiring an additional 80,539 shares during the last quarter. 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.