Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 8.3% - Here's Why

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares were down 8.3% on Monday . The stock traded as low as $34.32 and last traded at $34.60. Approximately 570,469 shares changed hands during trading, a decline of 79% from the average daily volume of 2,743,015 shares. The stock had previously closed at $37.74.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAOI shares. Raymond James boosted their price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an "outperform" rating in a research report on Friday, December 20th. B. Riley downgraded Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price target for the company. in a report on Tuesday, December 10th. StockNews.com raised Applied Optoelectronics to a "sell" rating in a research report on Friday, October 25th. Rosenblatt Securities upped their target price on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Northland Securities restated an "outperform" rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.20.

Applied Optoelectronics Stock Performance

The business's 50-day moving average price is $29.88 and its 200-day moving average price is $17.74. The stock has a market cap of $1.70 billion, a PE ratio of -17.59 and a beta of 2.37. 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, Director Richard B. Black sold 10,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the completion of the transaction, the director now owns 167,813 shares of the company's stock, valued at approximately $5,918,764.51. This trade represents a 5.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stefan J. Murry sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total transaction of $157,800.00. Following the completion of the transaction, the chief financial officer now directly owns 216,129 shares of the company's stock, valued at approximately $6,821,031.24. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,769 shares of company stock valued at $3,015,537. Corporate insiders own 5.40% of the company's stock.

Institutional Trading of Applied Optoelectronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in Applied Optoelectronics in the 2nd quarter valued at approximately $956,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 6,787 shares during the last quarter. Rhumbline Advisers acquired a new stake in Applied Optoelectronics during the second quarter worth approximately $449,000. Acuitas Investments LLC grew its position in shares of Applied Optoelectronics by 38.4% in the second quarter. Acuitas Investments LLC now owns 331,221 shares of the semiconductor company's stock valued at $2,746,000 after purchasing an additional 91,885 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Applied Optoelectronics by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 616,701 shares of the semiconductor company's stock worth $5,113,000 after acquiring an additional 24,259 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.