Applied Optoelectronics (NASDAQ:AAOI) Shares Down 4.7% - Here's Why

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report)'s stock price dropped 4.7% on Tuesday . The company traded as low as $21.06 and last traded at $21.24. Approximately 431,774 shares changed hands during trading, a decline of 85% from the average daily volume of 2,918,738 shares. The stock had previously closed at $22.28.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. 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 research note on Friday, March 7th. Northland Securities restated an "outperform" rating and issued a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Raymond James raised their target price on Applied Optoelectronics to $31.00 and gave the stock a "buy" rating in a report on Friday, February 28th. StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a report on Wednesday, February 26th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $36.00 price objective 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 assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Applied Optoelectronics presently has a consensus rating of "Hold" and a consensus price target of $25.80.

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Applied Optoelectronics Stock Down 7.9 %

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's fifty day simple moving average is $23.92 and its 200 day simple moving average is $25.20. The company has a market cap of $816.56 million, a price-to-earnings ratio of -7.95 and a beta of 2.36.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $100.27 million for the quarter, compared to analysts' expectations of $99.92 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. Sell-side analysts predict that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard B. Black sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the director now directly owns 157,813 shares of the company's stock, valued at approximately $4,576,577. The trade was a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stefan J. Murry sold 4,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $31.72, for a total transaction of $126,880.00. Following the transaction, the chief financial officer now directly owns 212,129 shares in the company, valued at $6,728,731.88. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,298 shares of company stock valued at $543,821 in the last quarter. Company insiders own 4.96% of the company's stock.

Institutional Investors Weigh In On Applied Optoelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in Applied Optoelectronics in the 3rd quarter worth $1,109,000. Virtu Financial LLC acquired a new stake in Applied Optoelectronics during the third quarter worth approximately $353,000. Affinity Wealth Management LLC acquired a new position in Applied Optoelectronics during the fourth quarter valued at approximately $7,965,000. Emerald Advisers LLC lifted its stake in Applied Optoelectronics by 15.3% in the 4th 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. Finally, State Street Corp boosted its position 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 buying an additional 192,308 shares during the period. 61.72% of the stock is owned by institutional investors and hedge funds.

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.