Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Down – Here’s What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $11.45, but opened at $10.82. Applied Optoelectronics shares last traded at $10.88, with a volume of 545,005 shares trading hands.

Wall Street Analyst Weigh In

AAOI has been the subject of a number of research analyst reports. Raymond James lowered their price objective on shares of Applied Optoelectronics from $31.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday. B. Riley upgraded Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a research report on Friday, March 7th. Northland Securities restated an “outperform” rating and set a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $36.00 price objective on shares of Applied Optoelectronics in a report on Friday, March 14th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Applied Optoelectronics currently has an average rating of “Hold” and an average target price of $23.60.

Applied Optoelectronics Trading Down 5.2 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The business has a fifty day moving average of $19.39 and a 200-day moving average of $25.06. The company has a market capitalization of $540.88 million, a P/E ratio of -5.27 and a beta of 2.57.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly 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). The business had revenue of $100.27 million during the quarter, compared to the consensus estimate of $99.92 million. Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. Analysts anticipate that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Stefan J. Murry sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.06, for a total transaction of $46,120.00. Following the completion of the sale, the chief financial officer now owns 196,581 shares in the company, valued at approximately $4,533,157.86. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 8,298 shares of company stock valued at $253,821. Corporate insiders own 4.96% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Applied Optoelectronics by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock worth $1,557,000 after acquiring an additional 3,081 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Applied Optoelectronics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock valued at $210,000 after buying an additional 483 shares during the period. FMR LLC lifted its holdings in shares of Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after buying an additional 5,956 shares in the last quarter. State Street Corp boosted its position in shares of Applied Optoelectronics by 27.7% in 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, Y Intercept Hong Kong Ltd purchased a new position in shares of Applied Optoelectronics during the 3rd quarter valued at $340,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About Applied Optoelectronics

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.