Applied Optoelectronics (NASDAQ:AAOI) Shares Down 2.7% – Here’s What Happened

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) dropped 2.7% on Monday . The stock traded as low as $36.40 and last traded at $36.89. Approximately 893,911 shares were traded during trading, a decline of 60% from the average daily volume of 2,225,600 shares. The stock had previously closed at $37.90.

Analyst Ratings Changes

AAOI has been the subject of several research analyst reports. Rosenblatt Securities increased their target price on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Raymond James raised their price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a research note on Tuesday, December 10th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research note on Friday. Finally, Northland Securities reissued an “outperform” rating and issued a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Applied Optoelectronics currently has an average rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Stock Down 8.4 %

The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -16.86 and a beta of 2.39. The business’s fifty day moving average price is $31.79 and its 200 day moving average price is $18.68. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Applied Optoelectronics

Several institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in shares of Applied Optoelectronics by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock worth $210,000 after buying an additional 483 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Applied Optoelectronics by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock valued at $1,557,000 after purchasing an additional 3,081 shares during the last quarter. Truvestments Capital LLC raised its stake in Applied Optoelectronics by 24.3% in the 3rd quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 3,097 shares during the last quarter. Pingora Partners LLC acquired a new position in Applied Optoelectronics in the 3rd quarter valued at about $82,000. Finally, FMR LLC raised its stake in Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 5,956 shares during the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.