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

Applied Optoelectronics, Inc. (NASDAQ:AAOI) fell 4.9% during mid-day trading on Friday following insider selling activity. The company traded as low as $14.04 and last traded at $14.09. 1,110,780 shares were traded 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 business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total transaction of $150,200.00. Following the transaction, the insider now directly owns 132,921 shares in the company, valued at $1,996,473.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AAOI. Raymond James upgraded 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. Rosenblatt Securities boosted 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. B. Riley Financial restated a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, August 9th. Finally, B. Riley dropped their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.75.

Applied Optoelectronics Trading Down 7.3 %

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

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share 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 firm had revenue of $43.27 million for the quarter, compared to analysts’ expectations of $44.14 million. During the same period in the previous year, the company earned ($0.31) earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

Institutional Trading of Applied Optoelectronics

Hedge funds and other institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co bought a new stake in shares of Applied Optoelectronics in the first quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 6,787 shares during the period. Point72 Hong Kong Ltd bought a new stake in Applied Optoelectronics during the 2nd quarter worth approximately $89,000. Truvestments Capital LLC bought a new stake in Applied Optoelectronics during the 1st quarter worth approximately $161,000. Finally, Summit Securities Group LLC bought a new stake in Applied Optoelectronics during the 2nd quarter worth approximately $109,000. 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.