Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 6.9% – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Northland Securities raised their price objective on shares of 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 upped their target price on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Raymond James raised their price target on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Applied Optoelectronics currently has an average rating of “Hold” and an average price target of $18.70.

Applied Optoelectronics Stock Down 6.5 %

The company has a market cap of $1.64 billion, a PE ratio of -17.24 and a beta of 2.36. The stock’s 50 day moving average price is $24.02 and its 200-day moving average price is $15.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61.

Insider Activity

In other news, CFO Stefan J. Murry sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 216,129 shares in the company, valued at approximately $6,821,031.24. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Yeh sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total transaction of $430,800.00. Following the sale, the director now owns 223,538 shares of the company’s stock, valued at $9,630,017.04. This represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,769 shares of company stock valued at $2,813,037. 5.40% of the stock is currently owned by insiders.

Institutional Trading of Applied Optoelectronics

Several large investors have recently modified their holdings of AAOI. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Applied Optoelectronics by 272.1% in the 2nd 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 during the period. Pingora Partners LLC purchased a new stake in Applied Optoelectronics in the third quarter worth $82,000. FMR LLC boosted its holdings in Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 5,956 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics during the 2nd quarter valued at $89,000. Finally, Summit Securities Group LLC bought a new position in Applied Optoelectronics in the 2nd quarter worth $109,000. 61.72% of the stock is 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.