Applied Optoelectronics (NASDAQ:AAOI) Trading Down 4.9% on Insider Selling

Applied Optoelectronics, Inc. (NASDAQ:AAOI) fell 4.9% during trading on Friday after an insider sold shares in the company. The company traded as low as $14.04 and last traded at $14.09. 1,110,780 shares traded hands during trading, a decline of 54% from the average session volume of 2,437,095 shares. The stock had previously closed at $14.81.

Specifically, insider David C. Kuo sold 10,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total value of $150,200.00. Following the transaction, the insider now owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

AAOI has been the topic of a number of research analyst reports. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Friday, August 9th. B. Riley Financial reissued a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. B. Riley decreased their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Rosenblatt Securities increased their price target on shares of Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Raymond James raised shares of 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.75.

Applied Optoelectronics Stock Down 7.3 %

The company has a market cap of $534.40 million, a PE ratio of -7.55 and a beta of 1.96. The stock’s 50 day moving average price is $10.62 and its 200-day moving average price is $10.94. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data 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. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The company had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. During the same quarter in the prior year, the company earned ($0.31) EPS. The firm’s revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Applied Optoelectronics, Inc. will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Applied Optoelectronics

A number of institutional investors have recently made changes to their positions in the business. Connective Capital Management LLC purchased a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $250,000. Shellback Capital LP purchased a new stake in Applied Optoelectronics during the 2nd quarter valued at $8,617,000. The Manufacturers Life Insurance Company purchased a new stake in Applied Optoelectronics during the 2nd quarter valued at $118,000. AQR Capital Management LLC boosted its position in Applied Optoelectronics by 90.7% during the 2nd quarter. AQR Capital Management LLC now owns 75,981 shares of the semiconductor company’s stock valued at $630,000 after buying an additional 36,138 shares during the period. Finally, Caxton Associates LP boosted its position in Applied Optoelectronics by 550.5% during the 2nd quarter. Caxton Associates LP now owns 411,054 shares of the semiconductor company’s stock valued at $3,408,000 after buying an additional 347,867 shares during the period. 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.