Applied Optoelectronics (NASDAQ:AAOI) Trading Down 6.1% - What's Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report)'s stock price fell 6.1% during trading on Thursday . The company traded as low as $16.04 and last traded at $16.07. 1,508,545 shares changed hands during trading, a decline of 54% from the average session volume of 3,298,132 shares. The stock had previously closed at $17.11.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AAOI shares. Wall Street Zen raised shares of Applied Optoelectronics from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Rosenblatt Securities increased their price target on Applied Optoelectronics to $30.00 and gave the company a "buy" rating in a research note on Friday, May 9th. 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 research note on Friday, March 7th. Finally, Raymond James reduced their target price on Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.00.

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 business has a 50 day moving average price of $14.61 and a 200-day moving average price of $24.06. The company has a market capitalization of $934.81 million, a price-to-earnings ratio of -8.17 and a beta of 2.64.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. The firm had revenue of $99.86 million for the quarter, compared to analyst estimates of $99.37 million. During the same period in the previous year, the firm earned ($0.31) earnings per share. The company's revenue was up 145.5% compared to the same quarter last year. Research analysts predict that Applied Optoelectronics, Inc. will post -1.18 EPS for the current fiscal year.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, insider Hung-Lun (Fred) Chang sold 23,837 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $19.06, for a total transaction of $454,333.22. Following the completion of the sale, the insider now owns 278,842 shares in the company, valued at approximately $5,314,728.52. The trade was a 7.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stefan J. Murry sold 2,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.06, for a total transaction of $46,120.00. Following the sale, the chief financial officer now directly owns 196,581 shares of the company's stock, valued at approximately $4,533,157.86. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,263 shares of company stock valued at $740,590 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Applied Optoelectronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. bought a new stake in Applied Optoelectronics during the fourth quarter worth $31,331,000. Yong Rong HK Asset Management Ltd purchased a new position in Applied Optoelectronics during the 4th quarter worth $27,645,000. Jefferies Financial Group Inc. bought a new stake in shares of Applied Optoelectronics in the 4th quarter worth $23,354,000. Assenagon Asset Management S.A. raised its holdings in shares of Applied Optoelectronics by 182.7% in the first quarter. Assenagon Asset Management S.A. now owns 976,520 shares of the semiconductor company's stock valued at $14,990,000 after purchasing an additional 631,128 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Applied Optoelectronics in the first quarter valued at about $7,455,000. 61.72% of the stock is owned by institutional investors.

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.