Applied Optoelectronics (NASDAQ:AAOI) Shares Down 6.9% – Here’s What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI) fell 6.9% on Monday . The company traded as low as $34.91 and last traded at $36.18. 2,987,151 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 2,710,100 shares. The stock had previously closed at $38.88.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAOI. Northland Securities increased their price target on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Rosenblatt Securities lifted their target price on Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Finally, Raymond James lifted their price objective on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.70.

Applied Optoelectronics Trading Down 6.5 %

The firm has a fifty day moving average of $24.02 and a two-hundred day moving average of $15.12. The company has a market cap of $1.64 billion, a PE ratio of -17.24 and a beta of 2.36. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Insider Transactions at Applied Optoelectronics

In other news, Director William H. Yeh sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 223,538 shares of the company’s stock, valued at $9,630,017.04. This trade represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stefan J. Murry sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total value of $157,800.00. Following the sale, the chief financial officer now owns 216,129 shares in the company, valued at approximately $6,821,031.24. The trade was a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,769 shares of company stock worth $2,813,037 over the last quarter. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Institutional investors and hedge funds have recently modified their holdings of the company. Pingora Partners LLC bought a new stake in Applied Optoelectronics during the 3rd quarter worth approximately $82,000. FMR LLC increased 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 purchasing an additional 5,956 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after buying an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Applied Optoelectronics during the second quarter valued at $89,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Applied Optoelectronics during the third quarter valued at $186,000. 61.72% of the stock is owned by hedge funds and other 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.