Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up - Here's What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $16.76, but opened at $17.43. Applied Optoelectronics shares last traded at $16.97, with a volume of 488,594 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AAOI shares. B. Riley raised shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price objective for the company in a research report on Friday, March 7th. Rosenblatt Securities lifted their price objective on shares of Applied Optoelectronics to $30.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wall Street Zen raised shares of Applied Optoelectronics from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Raymond James decreased their price objective on shares of Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Optoelectronics currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Applied Optoelectronics Stock Down 5.0%

The firm has a market cap of $903.15 million, a P/E ratio of -7.89 and a beta of 2.55. 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 firm's fifty day moving average is $14.56 and its 200 day moving average is $24.22.

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

Insider Buying and Selling

In other Applied Optoelectronics news, insider Hung-Lun (Fred) Chang sold 23,837 shares of Applied Optoelectronics stock in a transaction dated Tuesday, May 13th. The shares were 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 in the company, valued at $5,314,728.52. The trade was a 7.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stefan J. Murry sold 2,000 shares of Applied Optoelectronics 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 completion of the sale, the chief financial officer now owns 196,581 shares of the company's stock, valued at $4,533,157.86. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,263 shares of company stock valued at $740,590. Company insiders own 4.96% of the company's stock.

Institutional Trading of Applied Optoelectronics

Several hedge funds and other institutional investors have recently bought and sold shares of AAOI. Nomura Holdings Inc. acquired a new stake in Applied Optoelectronics in the 4th quarter worth about $31,331,000. Yong Rong HK Asset Management Ltd acquired a new stake in Applied Optoelectronics in the 4th quarter worth about $27,645,000. Jefferies Financial Group Inc. acquired a new stake in Applied Optoelectronics in the 4th quarter worth about $23,354,000. Assenagon Asset Management S.A. raised its stake in Applied Optoelectronics by 182.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 976,520 shares of the semiconductor company's stock worth $14,990,000 after purchasing an additional 631,128 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Applied Optoelectronics in the 1st quarter worth about $7,455,000. Institutional investors and hedge funds own 61.72% of the company's stock.

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.