Applied Optoelectronics (NASDAQ:AAOI) Trading Down 5.6%

Applied Optoelectronics, Inc. (NASDAQ:AAOIGet Free Report)’s stock price was down 5.6% on Friday . The stock traded as low as $17.72 and last traded at $17.84. Approximately 782,526 shares were traded during trading, a decline of 72% from the average daily volume of 2,824,569 shares. The stock had previously closed at $18.89.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AAOI shares. Rosenblatt Securities started coverage on Applied Optoelectronics in a research note on Tuesday, January 30th. They set a “buy” rating and a $23.00 target price for the company. B. Riley increased their target price on Applied Optoelectronics from $13.50 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Applied Optoelectronics presently has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Read Our Latest Stock Analysis on AAOI

Applied Optoelectronics Stock Performance

The stock has a 50-day simple moving average of $18.96 and a 200 day simple moving average of $13.63. The company has a market cap of $711.81 million, a P/E ratio of -9.49 and a beta of 2.05.

Applied Optoelectronics (NASDAQ:AAOIGet Free Report) last announced its quarterly earnings data on Thursday, November 9th. The semiconductor company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Applied Optoelectronics had a negative return on equity of 17.89% and a negative net margin of 28.54%. The firm had revenue of $62.55 million during the quarter, compared to the consensus estimate of $62.61 million. Sell-side analysts anticipate that Applied Optoelectronics, Inc. will post -0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Applied Optoelectronics news, insider Shu-Hua (Joshua) Yeh sold 42,779 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $22.39, for a total value of $957,821.81. Following the completion of the sale, the insider now owns 251,351 shares in the company, valued at approximately $5,627,748.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds have recently modified their holdings of the stock. UBS Group AG raised its holdings in shares of Applied Optoelectronics by 201.6% in the 3rd quarter. UBS Group AG now owns 11,543 shares of the semiconductor company’s stock worth $31,000 after buying an additional 7,716 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Applied Optoelectronics in the 4th quarter worth approximately $31,000. Squarepoint Ops LLC acquired a new position in shares of Applied Optoelectronics in the 1st quarter worth approximately $34,000. Jane Street Group LLC acquired a new position in shares of Applied Optoelectronics in the 4th quarter worth approximately $49,000. Finally, XTX Topco Ltd acquired a new position in shares of Applied Optoelectronics in the 1st quarter worth approximately $73,000. 41.54% of the stock is owned by institutional investors and hedge funds.

Applied Optoelectronics Company Profile

(Get Free Report)

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, subassemblies, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to internet data center operators, cable television and telecom equipment manufacturers, and internet service providers through its direct and indirect sales channels.

Further Reading

Receive News & Ratings for Applied Optoelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics and related companies with MarketBeat.com's FREE daily email newsletter.