Applied Optoelectronics (NASDAQ:AAOI) Shares Down 4.2% – Time to Sell?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) were down 4.2% during mid-day trading on Monday . The company traded as low as $34.68 and last traded at $34.91. Approximately 483,620 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 2,729,015 shares. The stock had previously closed at $36.43.

Wall Street Analyst Weigh In

AAOI has been the subject of a number of analyst reports. Northland Securities reaffirmed an “outperform” rating and set a $40.00 target price (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. B. Riley cut Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a research note on Tuesday, December 10th. Raymond James lifted their price objective on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Rosenblatt Securities boosted their price target on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.00.

Applied Optoelectronics Price Performance

The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -15.59 and a beta of 2.37. The company has a 50 day simple moving average of $26.76 and a 200-day simple moving average of $16.22. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Insider Activity at Applied Optoelectronics

In other news, Director Min-Chu (Mike) Chen sold 9,790 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $40.00, for a total value of $391,600.00. Following the transaction, the director now directly owns 165,054 shares of the company’s stock, valued at $6,602,160. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $150,200.00. Following the sale, the insider now owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. This represents a 7.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,769 shares of company stock valued at $2,813,037. 5.40% of the stock is owned by insiders.

Institutional Trading of Applied Optoelectronics

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares in the last quarter. Pingora Partners LLC acquired a new stake in Applied Optoelectronics during the third quarter worth approximately $82,000. FMR LLC increased its stake in Applied Optoelectronics by 3,290.6% during the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 5,956 shares during the period. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics in the 2nd quarter valued at $89,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter worth $109,000. 61.72% of the stock is currently owned by institutional investors.

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.