Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 4.7% - Here's What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares traded down 4.7% during mid-day trading on Friday . The stock traded as low as $26.20 and last traded at $26.47. 2,822,616 shares were traded during mid-day trading, a decline of 22% from the average session volume of 3,606,583 shares. The stock had previously closed at $27.77.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Raymond James Financial reduced their price target on Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Rosenblatt Securities lifted their price target on Applied Optoelectronics from $30.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday. Wall Street Zen upgraded shares of Applied Optoelectronics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Northland Securities boosted their price target on Applied Optoelectronics to $50.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, B. Riley raised Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price target for the company in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Applied Optoelectronics presently has an average rating of "Moderate Buy" and a consensus price target of $24.80.

Applied Optoelectronics Stock Down 6.9%

The company has a quick ratio of 1.34, a current ratio of 1.88 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $16.85 and a 200-day simple moving average of $22.31. The firm has a market capitalization of $1.44 billion, a PE ratio of -6.71 and a beta of 2.64.

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

Insider Transactions at Applied Optoelectronics

In related news, CFO Stefan J. Murry sold 2,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $16.05, for a total value of $32,100.00. Following the completion of the transaction, the chief financial officer now directly owns 321,036 shares in the company, valued at $5,152,627.80. The trade was a 0.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hung-Lun (Fred) Chang sold 23,837 shares of Applied Optoelectronics stock in a transaction on 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 directly owns 278,842 shares of the company's stock, valued at $5,314,728.52. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,263 shares of company stock worth $726,570. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Applied Optoelectronics

Institutional investors and hedge funds have recently modified their holdings of the company. Nomura Holdings Inc. purchased a new position in shares of Applied Optoelectronics in the fourth quarter valued at about $31,331,000. Jefferies Financial Group Inc. purchased a new position in Applied Optoelectronics in the 4th quarter worth approximately $23,354,000. Assenagon Asset Management S.A. lifted its holdings 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. Alyeska Investment Group L.P. bought a new position in Applied Optoelectronics in the 1st quarter worth approximately $7,455,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Applied Optoelectronics during the fourth quarter valued at approximately $13,379,000. 61.72% of the stock is currently owned by 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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