Applied Optoelectronics (NASDAQ:AAOI) Shares Down 7.6% - Here's Why

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) was down 7.6% on Monday . The stock traded as low as $28.70 and last traded at $29.20. Approximately 630,752 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 2,502,750 shares. The stock had previously closed at $31.60.

Analyst Ratings Changes

Several equities analysts recently weighed in on AAOI shares. Raymond James raised their price objective on Applied Optoelectronics from $17.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. B. Riley cut Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price objective on the stock. in a report on Tuesday, December 10th. Rosenblatt Securities raised their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Northland Securities restated 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. Finally, StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $29.20.

Applied Optoelectronics Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $33.69 and a 200-day moving average price of $19.66. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -14.07 and a beta of 2.39.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 5,000 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $31.56, for a total value of $157,800.00. Following the transaction, the chief financial officer now owns 216,129 shares of the company's stock, valued at approximately $6,821,031.24. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David C. Kuo sold 10,000 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $26.93, for a total value of $269,300.00. Following the completion of the transaction, the insider now directly owns 118,122 shares in the company, valued at $3,181,025.46. This represents a 7.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,769 shares of company stock worth $3,015,537. Company insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new stake in shares of Applied Optoelectronics during the second quarter valued at approximately $956,000. Rhumbline Advisers bought a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $449,000. Dimensional Fund Advisors LP grew its position in shares of Applied Optoelectronics by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 616,701 shares of the semiconductor company's stock valued at $5,113,000 after acquiring an additional 24,259 shares during the period. Sei Investments Co. bought a new stake in shares of Applied Optoelectronics during the 2nd quarter worth about $194,000. Finally, Marshall Wace LLP boosted its holdings in shares of Applied Optoelectronics by 51.1% during the 2nd quarter. Marshall Wace LLP now owns 541,787 shares of the semiconductor company's stock worth $4,491,000 after buying an additional 183,260 shares during the period. Institutional investors and hedge funds 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.