Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report)'s share price traded up 7.2% during mid-day trading on Thursday . The company traded as high as $28.00 and last traded at $28.62. 1,178,989 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 3,630,914 shares. The stock had previously closed at $26.69.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Raymond James Financial lowered their price objective on Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Northland Securities boosted their price objective on Applied Optoelectronics to $50.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Wall Street Zen upgraded Applied Optoelectronics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Rosenblatt Securities upped 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Applied Optoelectronics has a consensus rating of "Moderate Buy" and an average target price of $24.80.
Read Our Latest Research Report on Applied Optoelectronics
Applied Optoelectronics Stock Performance
The company has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $21.86. The firm has a market cap of $1.60 billion, a PE ratio of -7.45 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 issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share 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 during the quarter, compared to the consensus estimate of $99.37 million. During the same period last year, the company earned ($0.31) earnings per share. The company's revenue was up 145.5% on a year-over-year basis. As a group, equities research analysts anticipate that Applied Optoelectronics, Inc. will post -1.18 EPS for the current year.
Insider Buying and Selling
In related news, CEO Chih-Hsiang (Thompson) Lin acquired 21,200 shares of the stock in a transaction dated Tuesday, May 13th. The shares were purchased at an average cost of $18.22 per share, with a total value of $386,264.00. Following the transaction, the chief executive officer directly owned 1,659,025 shares in the company, valued at approximately $30,227,435.50. This represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider directly owned 278,842 shares in the company, valued at approximately $5,314,728.52. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,263 shares of company stock valued at $726,570 in the last 90 days. Corporate insiders own 4.50% of the company's stock.
Institutional Trading of Applied Optoelectronics
A number of large investors have recently added to or reduced their stakes in AAOI. AlphaQuest LLC increased its stake in Applied Optoelectronics by 243.9% in the 1st quarter. AlphaQuest LLC now owns 2,297 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 1,629 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Applied Optoelectronics during the 4th quarter valued at approximately $38,000. Sterling Capital Management LLC increased its position in shares of Applied Optoelectronics by 858.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Applied Optoelectronics during the 4th quarter valued at approximately $63,000. Finally, Quantbot Technologies LP bought a new position in shares of Applied Optoelectronics during the 1st quarter valued at approximately $66,000. Institutional investors own 61.72% of the company's stock.
About Applied Optoelectronics
(
Get Free Report)
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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