Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 3.6% – What’s Next?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) dropped 3.6% on Wednesday . The company traded as low as $15.70 and last traded at $15.85. Approximately 887,094 shares were traded 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

AAOI has been the subject of a number of recent analyst reports. Raymond James raised Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a report on Tuesday, September 3rd. B. Riley Financial reissued a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Thursday, October 3rd. Rosenblatt Securities boosted their price objective on Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, B. Riley cut their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One research 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 MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.75.

Applied Optoelectronics Price Performance

The firm has a market capitalization of $613.97 million, a P/E ratio of -9.04 and a beta of 1.96. The business’s 50-day simple moving average is $11.42 and its 200 day simple moving average is $10.96. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $44.14 million. During the same quarter last year, the company earned ($0.31) EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that Applied Optoelectronics, Inc. will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Applied Optoelectronics

In related news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics 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 directly 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 link. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Applied Optoelectronics by 29.2% in the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after acquiring an additional 442,277 shares during the last quarter. Hood River Capital Management LLC boosted its stake in shares of Applied Optoelectronics by 6.5% during the 1st quarter. Hood River Capital Management LLC now owns 1,439,404 shares of the semiconductor company’s stock valued at $19,950,000 after purchasing an additional 88,281 shares in the last quarter. Whale Rock Capital Management LLC boosted its stake in shares of Applied Optoelectronics by 30.0% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,333,957 shares of the semiconductor company’s stock valued at $18,489,000 after purchasing an additional 308,172 shares in the last quarter. Shellback Capital LP bought a new stake in shares of Applied Optoelectronics during the 2nd quarter valued at about $8,617,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Applied Optoelectronics by 9,687.4% during the 4th 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 in the last quarter. Institutional investors 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.