Applied Optoelectronics (NASDAQ:AAOI) Shares Down 3.6% – Here’s What Happened

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) were down 3.6% on Wednesday . The stock traded as low as $15.70 and last traded at $15.85. Approximately 887,094 shares changed hands during trading, a decline of 64% from the average daily volume of 2,441,104 shares. The stock had previously closed at $16.45.

Analyst Ratings Changes

Several research analysts have weighed in on AAOI shares. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Applied Optoelectronics in a report on Wednesday. B. Riley Financial restated a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Thursday, October 3rd. Raymond James upgraded Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a report on Tuesday, September 3rd. Finally, B. Riley cut their price target on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.75.

Applied Optoelectronics Trading Up 7.2 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The business has a 50-day moving average of $11.72 and a 200-day moving average of $11.04. The firm has a market cap of $730.47 million, a price-to-earnings ratio of -9.35 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. The business had revenue of $43.27 million for the quarter, compared to the consensus estimate of $44.14 million. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. Applied Optoelectronics’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.31) earnings per share. Research analysts anticipate that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the transaction, the insider now owns 132,921 shares of the company’s stock, valued at $1,996,473.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Institutional investors have recently bought and sold shares of the business. Nomura Holdings Inc. acquired a new position in shares of Applied Optoelectronics in the fourth quarter valued at approximately $1,501,000. Goldman Sachs Group Inc. grew its position in shares of Applied Optoelectronics by 9,687.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock valued at $16,498,000 after purchasing an additional 845,223 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Applied Optoelectronics by 29.2% in the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock valued at $27,089,000 after purchasing an additional 442,277 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Applied Optoelectronics in the second quarter valued at approximately $956,000. Finally, Swiss National Bank acquired a new position in shares of Applied Optoelectronics in the first quarter valued at approximately $1,123,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

About Applied Optoelectronics

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.