Applied Optoelectronics Target of Unusually Large Options Trading (NASDAQ:AAOI)

Applied Optoelectronics, Inc. (NASDAQ:AAOI) was the target of some unusual options trading activity on Tuesday. Stock traders bought 7,561 call options on the stock. This represents an increase of 116% compared to the average volume of 3,494 call options.

Applied Optoelectronics Stock Performance

Shares of AAOI opened at $15.38 on Thursday. 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 firm’s 50 day moving average is $10.45 and its 200-day moving average is $10.94. Applied Optoelectronics has a 12-month low of $6.66 and a 12-month high of $24.75. The stock has a market capitalization of $598.41 million, a P/E ratio of -8.45 and a beta of 1.96.

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

Hedge Funds Weigh In On Applied Optoelectronics

A number of hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co purchased a new position in Applied Optoelectronics in the first quarter valued at about $46,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 valued at $77,000 after buying an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics in the second quarter worth approximately $89,000. Summit Securities Group LLC bought a new position in Applied Optoelectronics during the second quarter valued at approximately $109,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Applied Optoelectronics in the second quarter valued at approximately $118,000. 61.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research report on Friday, August 9th. B. Riley Financial reissued a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a research note on Tuesday, September 3rd. B. Riley cut their price target 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. Finally, Rosenblatt Securities boosted their price objective on shares of Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.75.

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.