Applied Optoelectronics (NASDAQ:AAOI) Trading Down 6.4% – What’s Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) fell 6.4% on Wednesday . The company traded as low as $34.52 and last traded at $34.64. 1,058,320 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,637,886 shares. The stock had previously closed at $37.02.

Wall Street Analyst Weigh In

AAOI has been the subject of several research reports. B. Riley decreased their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Raymond James lifted their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Northland Securities lifted their price objective on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Rosenblatt Securities increased their price target on Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Applied Optoelectronics has a consensus rating of “Hold” and an average price target of $18.70.

Applied Optoelectronics Stock Down 0.9 %

The company has a market cap of $1.65 billion, a price-to-earnings ratio of -16.82 and a beta of 1.96. The business has a fifty day moving average of $20.04 and a two-hundred day moving average of $13.55. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Insider Transactions at Applied Optoelectronics

In related news, insider Hung-Lun (Fred) Chang sold 20,323 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total transaction of $616,803.05. Following the completion of the transaction, the insider now directly owns 195,572 shares in the company, valued at $5,935,610.20. This trade represents a 9.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth G. Loboa sold 13,494 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $36.54, for a total transaction of $493,070.76. Following the completion of the transaction, the director now owns 124,500 shares of the company’s stock, valued at $4,549,230. This represents a 9.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $1,687,174 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several hedge funds and other institutional investors have recently modified their holdings of AAOI. The Manufacturers Life Insurance Company raised its position in Applied Optoelectronics by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock worth $210,000 after acquiring an additional 483 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Applied Optoelectronics by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock worth $1,557,000 after buying an additional 3,081 shares during the last quarter. Truvestments Capital LLC lifted its stake in shares of Applied Optoelectronics by 24.3% in the third quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock worth $227,000 after buying an additional 3,097 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Applied Optoelectronics in the first quarter worth $46,000. Finally, Pingora Partners LLC bought a new position in Applied Optoelectronics during the third quarter worth $82,000. Institutional investors 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.