Applied Optoelectronics (NASDAQ:AAOI) Shares Down 15.1% – Here’s Why

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price dropped 15.1% on Tuesday . The company traded as low as $22.90 and last traded at $23.19. Approximately 3,438,982 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 3,213,062 shares. The stock had previously closed at $27.32.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAOI. B. Riley cut shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a research report on Tuesday, December 10th. Northland Securities reaffirmed 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. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $44.00 price target on shares of Applied Optoelectronics in a research report on Monday. Finally, Raymond James lifted their price objective on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Stock Down 14.2 %

The company has a market capitalization of $1.10 billion, a P/E ratio of -11.46 and a beta of 2.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The company has a 50 day moving average of $31.17 and a 200-day moving average of $23.80.

Insider Activity at Applied Optoelectronics

In related news, Director William H. Yeh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $43.08, for a total value of $430,800.00. Following the sale, the director now owns 223,538 shares in the company, valued at $9,630,017.04. This represents a 4.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Stefan J. Murry sold 4,000 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the completion of the sale, the chief financial officer now directly owns 212,129 shares in the company, valued at $6,728,731.88. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,088 shares of company stock worth $1,672,801 over the last quarter. Corporate insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Applied Optoelectronics in the third quarter worth approximately $303,000. Rice Hall James & Associates LLC lifted its position in Applied Optoelectronics by 75.8% in the 3rd quarter. Rice Hall James & Associates LLC now owns 235,763 shares of the semiconductor company’s stock valued at $3,374,000 after acquiring an additional 101,640 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Applied Optoelectronics by 2.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company’s stock valued at $5,869,000 after purchasing an additional 11,037 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Applied Optoelectronics during the 3rd quarter valued at $1,319,000. Finally, Emerald Advisers LLC increased its holdings in shares of Applied Optoelectronics by 2.7% in the 3rd quarter. Emerald Advisers LLC now owns 526,458 shares of the semiconductor company’s stock worth $7,534,000 after purchasing an additional 13,737 shares in the last quarter. 61.72% of the stock is currently owned by 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.