Applied Optoelectronics (NASDAQ:AAOI) Stock Price Up 7.9% – Here’s What Happened

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) rose 7.9% on Monday . The company traded as high as $22.29 and last traded at $22.04. Approximately 1,042,911 shares traded hands during trading, a decline of 75% from the average daily volume of 4,114,351 shares. The stock had previously closed at $20.43.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AAOI shares. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Wednesday, February 26th. B. Riley upgraded shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 target price on the stock in a research report on Friday, March 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $36.00 target price on shares of Applied Optoelectronics in a report on Friday, March 14th. Northland Securities reissued an “outperform” rating and set a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Finally, Raymond James lifted their target price on Applied Optoelectronics to $31.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.80.

Applied Optoelectronics Trading Up 9.7 %

The business has a fifty day simple moving average of $24.97 and a 200-day simple moving average of $25.13. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -10.88 and a beta of 2.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. The business had revenue of $100.27 million during the quarter, compared to the consensus estimate of $99.92 million. As a group, equities analysts forecast that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal year.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.06, for a total transaction of $46,120.00. Following the sale, the chief financial officer now owns 196,581 shares of the company’s stock, valued at approximately $4,533,157.86. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the transaction, the director now directly owns 157,813 shares of the company’s stock, valued at approximately $4,576,577. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,298 shares of company stock worth $543,821. Company insiders own 4.96% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in Applied Optoelectronics in the fourth quarter worth $38,000. Sterling Capital Management LLC grew its holdings in Applied Optoelectronics by 858.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 1,150 shares during the period. Canada Pension Plan Investment Board bought a new stake in Applied Optoelectronics in the 4th quarter valued at about $63,000. Pingora Partners LLC purchased a new stake in shares of Applied Optoelectronics during the 3rd quarter valued at approximately $82,000. Finally, FMR LLC boosted its holdings in shares of Applied Optoelectronics by 3,290.6% in the third 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. 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.