Applied Optoelectronics (NASDAQ:AAOI) Trading Down 9.9% – Here’s What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price fell 9.9% during mid-day trading on Monday . The company traded as low as $14.36 and last traded at $14.26. 942,632 shares traded hands during trading, a decline of 75% from the average session volume of 3,731,749 shares. The stock had previously closed at $15.82.

Wall Street Analyst Weigh In

AAOI has been the subject of several analyst reports. B. Riley upgraded shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 price target for the company in a research report on Friday, March 7th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Wednesday, February 26th. Raymond James increased their price target on Applied Optoelectronics to $31.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $44.00 price target on shares of Applied Optoelectronics in a research report on Monday, February 24th. Finally, Northland Securities reiterated an “outperform” rating and issued a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. One 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.40.

Applied Optoelectronics Trading Up 6.5 %

The company has a market capitalization of $748.24 million, a P/E ratio of -7.32 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. The business’s 50-day moving average price is $27.26 and its two-hundred day moving average price is $24.62.

Applied Optoelectronics (NASDAQ:AAOI) last posted 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 return on equity of 22.36% and a negative net margin of 38.61%. The business had revenue of $100.27 million for the quarter, compared to the consensus estimate of $99.92 million. As a group, analysts forecast that Applied Optoelectronics, Inc. will post -1.18 EPS for the current fiscal year.

Insider Activity at Applied Optoelectronics

In related news, Director Richard B. Black sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the director now directly owns 157,813 shares in the company, valued at $4,576,577. This trade represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stefan J. Murry sold 4,000 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $31.72, for a total transaction of $126,880.00. Following the completion of the transaction, the chief financial officer now directly owns 212,129 shares of the company’s stock, valued at approximately $6,728,731.88. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,298 shares of company stock worth $850,401. 5.40% of the stock is owned by company insiders.

Institutional Trading of Applied Optoelectronics

Several hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in shares of Applied Optoelectronics during the fourth quarter worth about $5,068,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Applied Optoelectronics by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,959 shares of the semiconductor company’s stock worth $2,910,000 after acquiring an additional 11,684 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of Applied Optoelectronics during the 4th quarter worth approximately $13,035,000. Two Sigma Advisers LP raised its holdings in shares of Applied Optoelectronics by 265.8% in the fourth quarter. Two Sigma Advisers LP now owns 57,800 shares of the semiconductor company’s stock valued at $2,131,000 after purchasing an additional 42,000 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Applied Optoelectronics by 10.5% in the fourth quarter. Two Sigma Investments LP now owns 588,469 shares of the semiconductor company’s stock worth $21,691,000 after purchasing an additional 55,863 shares in the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

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.