Applied Optoelectronics (NASDAQ:AAOI) Sees Strong Trading Volume - What's Next?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) saw an uptick in trading volume on Friday . 9,225,606 shares traded hands during mid-day trading, an increase of 163% from the previous session's volume of 3,508,319 shares.The stock last traded at $23.15 and had previously closed at $19.77.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James Financial dropped their price target on Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Wall Street Zen lowered Applied Optoelectronics from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. Northland Securities upped their target price on shares of Applied Optoelectronics to $50.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. 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 report on Friday, March 7th. Finally, Rosenblatt Securities raised their target price on shares of Applied Optoelectronics to $30.00 and gave the company a "buy" rating in a research note on Friday, May 9th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $24.00.

Applied Optoelectronics Stock Performance

The company has a current ratio of 1.88, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.27 billion, a PE ratio of -5.88 and a beta of 2.64. The business's fifty day moving average is $15.48 and its two-hundred day moving average is $22.81.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Applied Optoelectronics had a negative net margin of 55.98% and a negative return on equity of 15.40%. The firm had revenue of $99.86 million during the quarter, compared to analysts' expectations of $99.37 million. During the same period in the previous year, the company earned ($0.31) earnings per share. The firm's quarterly revenue was up 145.5% on a year-over-year basis. Equities research analysts predict that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Insider Activity at Applied Optoelectronics

In related news, insider David C. Kuo sold 11,426 shares of Applied Optoelectronics stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $19.10, for a total transaction of $218,236.60. Following the transaction, the insider now directly owns 153,900 shares in the company, valued at approximately $2,939,490. The trade was a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hung-Lun (Fred) Chang sold 23,837 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $19.06, for a total value of $454,333.22. Following the completion of the sale, the insider now owns 278,842 shares of the company's stock, valued at approximately $5,314,728.52. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,263 shares of company stock worth $726,570. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AAOI. Meeder Asset Management Inc. bought a new position in shares of Applied Optoelectronics in the fourth quarter worth approximately $38,000. Sterling Capital Management LLC grew its holdings in Applied Optoelectronics by 858.2% during 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 in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Applied Optoelectronics during the fourth quarter valued at approximately $63,000. AlphaQuest LLC lifted its holdings in shares of Applied Optoelectronics by 243.9% in the first quarter. AlphaQuest LLC now owns 2,297 shares of the semiconductor company's stock worth $35,000 after buying an additional 1,629 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of Applied Optoelectronics by 17.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company's stock worth $157,000 after acquiring an additional 637 shares during the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.

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