Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Down - What's Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $11.45, but opened at $10.82. Applied Optoelectronics shares last traded at $10.88, with a volume of 545,005 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. B. Riley raised Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price objective on the stock in a report on Friday, March 7th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research note on Wednesday, February 26th. Raymond James decreased their price target on shares of Applied Optoelectronics from $31.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $36.00 price target on shares of Applied Optoelectronics in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Applied Optoelectronics has a consensus rating of "Hold" and an average target price of $23.60.

Applied Optoelectronics Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market cap of $531.41 million, a PE ratio of -5.17 and a beta of 2.57. The stock has a 50 day moving average of $18.26 and a 200-day moving average of $24.91.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (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 analysts' expectations of $99.92 million. Equities analysts predict that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Insider Activity

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,298 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $35.17, for a total transaction of $80,820.66. Following the transaction, the chief financial officer now owns 209,831 shares of the company's stock, valued at approximately $7,379,756.27. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 6,298 shares of company stock worth $148,841 over the last three months. 4.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Applied Optoelectronics by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 2,429,418 shares of the semiconductor company's stock worth $89,548,000 after buying an additional 241,594 shares during the period. Virtu Financial LLC purchased a new stake in Applied Optoelectronics during the third quarter worth approximately $353,000. Emerald Advisers LLC increased its stake in Applied Optoelectronics by 15.3% in the fourth quarter. Emerald Advisers LLC now owns 606,997 shares of the semiconductor company's stock valued at $22,374,000 after purchasing an additional 80,539 shares during the last quarter. Affinity Wealth Management LLC purchased a new stake in shares of Applied Optoelectronics during the 4th quarter worth approximately $7,965,000. Finally, State Street Corp raised its stake in Applied Optoelectronics by 27.7% during the 3rd quarter. State Street Corp now owns 887,259 shares of the semiconductor company's stock worth $12,697,000 after acquiring an additional 192,308 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.