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

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) passed above its 50-day moving average during trading on Monday after an insider bought additional shares in the company. 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Applied Optoelectronics in a research note on Friday. They issued a "buy" rating and a $32.00 price objective for the company. Wolfe Research started coverage on shares of Applied Optoelectronics in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Rosenblatt Securities increased their target price on shares of Applied Optoelectronics from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Raymond James Financial dropped their target price 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. Finally, Northland Securities increased 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Applied Optoelectronics has a consensus rating of "Moderate Buy" and an average target price of $26.00.

Applied Optoelectronics Stock Performance

The stock's 50-day moving average price is $22.35 and its 200-day moving average price is $21.11. The company has a market cap of $1.51 billion, a P/E ratio of -7.03 and a beta of 2.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.88 and a quick ratio of 1.34.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share 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 analysts' expectations of $99.37 million. Applied Optoelectronics had a negative net margin of 55.98% and a negative return on equity of 15.40%. Applied Optoelectronics's revenue was up 145.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.31) earnings per share. Equities analysts anticipate that Applied Optoelectronics, Inc. will post -1.18 EPS for the current year.

Institutional Trading of Applied Optoelectronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAOI. Meeder Asset Management Inc. bought a new position in shares of Applied Optoelectronics in the 4th quarter worth $38,000. Sterling Capital Management LLC lifted its holdings in shares of Applied Optoelectronics by 858.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 1,150 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Applied Optoelectronics in the 4th quarter worth $63,000. GAMMA Investing LLC lifted its holdings in shares of Applied Optoelectronics by 85.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,785 shares of the semiconductor company's stock worth $46,000 after purchasing an additional 825 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Applied Optoelectronics by 175.5% in the 2nd quarter. CWM LLC now owns 2,218 shares of the semiconductor company's stock worth $57,000 after purchasing an additional 1,413 shares in the last quarter. 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.