Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 3.5% – Should You Sell?

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price dropped 3.5% during mid-day trading on Monday . The stock traded as low as $16.81 and last traded at $16.83. Approximately 1,668,785 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 2,442,659 shares. The stock had previously closed at $17.44.

Wall Street Analyst Weigh In

Several brokerages recently commented on AAOI. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Raymond James raised Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research note on Tuesday, September 3rd. B. Riley Financial reissued a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. B. Riley cut their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Applied Optoelectronics in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.75.

Applied Optoelectronics Stock Up 4.3 %

The stock has a market cap of $636.15 million, a PE ratio of -8.61 and a beta of 1.96. The business has a fifty day moving average of $14.27 and a 200-day moving average of $11.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.01. The business had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.31) EPS. Equities research analysts anticipate that Applied Optoelectronics, Inc. will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds have recently made changes to their positions in AAOI. CANADA LIFE ASSURANCE Co bought a new position in Applied Optoelectronics in the first quarter worth about $46,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 worth $77,000 after buying an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $89,000. Emerald Mutual Fund Advisers Trust lifted its position in Applied Optoelectronics by 2.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company’s stock valued at $5,869,000 after acquiring an additional 11,037 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Applied Optoelectronics in the first quarter valued at approximately $161,000. 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.