Applied Optoelectronics (NASDAQ:AAOI) Trading Up 7.3% – What’s Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) was up 7.3% during trading on Wednesday . The stock traded as high as $16.12 and last traded at $16.19. Approximately 1,253,490 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 4,014,631 shares. The stock had previously closed at $15.09.

Wall Street Analyst Weigh In

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

Applied Optoelectronics Stock Up 6.2 %

The business’s 50 day simple moving average is $23.31 and its 200 day simple moving average is $25.39. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $798.61 million, a PE ratio of -7.78 and a beta of 2.36.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (EPS) 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 firm had revenue of $100.27 million during the quarter, compared to the consensus estimate of $99.92 million. On average, equities research analysts forecast that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Stefan J. Murry sold 4,000 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $31.72, for a total transaction of $126,880.00. Following the sale, the chief financial officer now directly owns 212,129 shares of the company’s stock, valued at approximately $6,728,731.88. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard B. Black sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 of the company’s stock, valued at $4,576,577. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,298 shares of company stock worth $543,821 in the last 90 days. 4.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in Applied Optoelectronics in the 3rd quarter worth approximately $1,109,000. Virtu Financial LLC acquired a new position in Applied Optoelectronics during the 3rd quarter worth $353,000. Emerald Advisers LLC lifted its position in shares of Applied Optoelectronics by 15.3% during the 4th quarter. Emerald Advisers LLC now owns 606,997 shares of the semiconductor company’s stock worth $22,374,000 after purchasing an additional 80,539 shares during the last quarter. Affinity Wealth Management LLC acquired a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $7,965,000. Finally, State Street Corp increased its stake in Applied Optoelectronics by 27.7% in the 3rd quarter. State Street Corp now owns 887,259 shares of the semiconductor company’s stock valued at $12,697,000 after buying an additional 192,308 shares during the period. 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.