Applied Optoelectronics (NASDAQ:AAOI) Stock Price Passes Above 50 Day Moving Average Following Insider Selling

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday following insider buying activity. The stock has a 50 day moving average of $21.58 and traded as high as $29.44. Applied Optoelectronics shares last traded at $28.23, with a volume of 3,084,801 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Applied Optoelectronics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Rosenblatt Securities lifted their price target on Applied Optoelectronics from $30.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Raymond James Financial dropped 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. Wolfe Research assumed coverage on Applied Optoelectronics in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Finally, Northland Securities lifted their price target on Applied Optoelectronics to $50.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Optoelectronics currently has an average rating of "Hold" and an average price target of $24.80.

Applied Optoelectronics Trading Down 1.4%

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 stock has a fifty day moving average of $21.58 and a two-hundred day moving average of $21.20. The company has a market capitalization of $1.57 billion, a PE ratio of -7.31 and a beta of 2.78.

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 (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Applied Optoelectronics had a negative return on equity of 15.40% and a negative net margin of 55.98%. The firm had revenue of $99.86 million for the quarter, compared to analysts' expectations of $99.37 million. During the same period in the previous year, the firm earned ($0.31) earnings per share. The business's revenue was up 145.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal year.

Institutional Trading of Applied Optoelectronics

A number of hedge funds have recently bought and sold shares of AAOI. Vanguard Group Inc. increased its position in Applied Optoelectronics by 14.4% in the first quarter. Vanguard Group Inc. now owns 2,779,563 shares of the semiconductor company's stock worth $42,666,000 after buying an additional 350,145 shares in the last quarter. Geode Capital Management LLC boosted its stake in Applied Optoelectronics by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 979,769 shares of the semiconductor company's stock valued at $36,123,000 after buying an additional 70,210 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Applied Optoelectronics by 182.7% during 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 buying an additional 631,128 shares during the last quarter. Royce & Associates LP boosted its stake in Applied Optoelectronics by 15.2% during the first quarter. Royce & Associates LP now owns 876,543 shares of the semiconductor company's stock valued at $13,455,000 after buying an additional 115,853 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in Applied Optoelectronics during the fourth quarter valued at approximately $31,331,000. Hedge funds and other institutional investors 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.

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