Applied Optoelectronics (NASDAQ:AAOI) Shares Down 3.5% – Time to Sell?

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AAOI. B. Riley dropped their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. B. Riley Financial reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Applied Optoelectronics in a research report on Wednesday, October 9th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research note on Friday. Finally, 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.75.

Applied Optoelectronics Stock Down 4.8 %

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 business has a 50 day simple moving average of $13.97 and a 200 day simple moving average of $11.37. The stock has a market cap of $645.87 million, a PE ratio of -9.18 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, beating 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 firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.31) EPS. On average, equities research analysts forecast that Applied Optoelectronics, Inc. will post -1.08 EPS for the current fiscal year.

Insider Activity

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was 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 $1,996,473.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Applied Optoelectronics

A number of institutional investors have recently modified their holdings of AAOI. CANADA LIFE ASSURANCE Co acquired a new position in Applied Optoelectronics in the 1st quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 6,787 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Applied Optoelectronics in the second quarter valued at about $89,000. Truvestments Capital LLC acquired a new stake in shares of Applied Optoelectronics in the first quarter valued at about $161,000. Finally, Summit Securities Group LLC bought a new position in shares of Applied Optoelectronics in the second quarter worth about $109,000. Institutional investors own 61.72% of the company’s stock.

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.