Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 8.3% – Here’s Why

Applied Optoelectronics, Inc. (NASDAQ:AAOI) dropped 8.3% during trading on Monday . The stock traded as low as $34.32 and last traded at $34.60. Approximately 570,469 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 2,743,015 shares. The stock had previously closed at $37.74.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. B. Riley downgraded Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a research note on Tuesday, December 10th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Raymond James upped their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Rosenblatt Securities raised their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Northland Securities reissued an “outperform” rating and set a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.20.

Applied Optoelectronics Trading Down 5.3 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $1.68 billion, a P/E ratio of -17.35 and a beta of 2.37. The company has a 50-day simple moving average of $29.88 and a 200 day simple moving average of $17.74.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $26.93, for a total transaction of $269,300.00. Following the sale, the insider now owns 118,122 shares of the company’s stock, valued at $3,181,025.46. This represents a 7.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stefan J. Murry sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total value of $157,800.00. Following the completion of the sale, the chief financial officer now owns 216,129 shares of the company’s stock, valued at $6,821,031.24. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,769 shares of company stock valued at $3,015,537 in the last three months. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Applied Optoelectronics

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in Applied Optoelectronics in the second quarter valued at approximately $956,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 6,787 shares in the last quarter. Rhumbline Advisers acquired a new stake in Applied Optoelectronics during the 2nd quarter worth $449,000. Acuitas Investments LLC lifted its holdings in Applied Optoelectronics by 38.4% during the second quarter. Acuitas Investments LLC now owns 331,221 shares of the semiconductor company’s stock worth $2,746,000 after acquiring an additional 91,885 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Applied Optoelectronics by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 616,701 shares of the semiconductor company’s stock valued at $5,113,000 after acquiring an additional 24,259 shares during the period. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.