Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 7.9% - Here's What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report)'s stock price dropped 7.9% during mid-day trading on Monday . The company traded as low as $20.34 and last traded at $20.14. Approximately 1,934,504 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 3,550,115 shares. The stock had previously closed at $21.86.

Analyst Ratings Changes

AAOI has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a research note on Wednesday, February 26th. B. Riley raised shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price target for the company in a report on Friday. Raymond James raised their price target on shares of Applied Optoelectronics to $31.00 and gave the company a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $44.00 price target on shares of Applied Optoelectronics in a report on Monday, February 24th. Finally, Northland Securities reissued an "outperform" rating and issued a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Optoelectronics has a consensus rating of "Hold" and an average price target of $27.40.

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Applied Optoelectronics Stock Up 1.7 %

The business's fifty day simple moving average is $28.57 and its 200 day simple moving average is $24.27. 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 stock has a market cap of $785.48 million, a price-to-earnings ratio of -7.68 and a beta of 2.36.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last released its earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $99.92 million. Equities analysts forecast that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard B. Black sold 10,000 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $35.27, for a total value of $352,700.00. Following the completion of the transaction, the director now owns 167,813 shares of the company's stock, valued at $5,918,764.51. The trade was a 5.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stefan J. Murry sold 2,298 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total transaction of $80,820.66. Following the completion of the transaction, the chief financial officer now directly owns 209,831 shares of the company's stock, valued at $7,379,756.27. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,298 shares of company stock valued at $850,401. Company insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors and hedge funds have recently made changes to their positions in AAOI. Meeder Asset Management Inc. acquired a new position in shares of Applied Optoelectronics in the 4th quarter valued at $38,000. Sterling Capital Management LLC grew its holdings in shares of Applied Optoelectronics by 858.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company's stock valued at $47,000 after buying an additional 1,150 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Applied Optoelectronics in the 4th quarter valued at $63,000. Pingora Partners LLC bought a new stake in Applied Optoelectronics in the 3rd quarter valued at $82,000. Finally, FMR LLC lifted its position in Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company's stock valued at $88,000 after acquiring an additional 5,956 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.