Applied Optoelectronics, Inc. (NASDAQ:AAOI – Get Free Report)’s share price gapped down prior to trading on Friday after Rosenblatt Securities lowered their price target on the stock from $23.00 to $20.00. The stock had previously closed at $20.35, but opened at $13.74. Rosenblatt Securities currently has a buy rating on the stock. Applied Optoelectronics shares last traded at $14.13, with a volume of 15,736,547 shares changing hands.
Separately, B. Riley cut Applied Optoelectronics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $16.00 in a research report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.88.
Insider Activity at Applied Optoelectronics
In related news, insider Shu-Hua (Joshua) Yeh sold 42,779 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $22.39, for a total transaction of $957,821.81. Following the completion of the sale, the insider now owns 251,351 shares in the company, valued at $5,627,748.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its position in Applied Optoelectronics by 54.4% during the 4th quarter. GSA Capital Partners LLP now owns 65,252 shares of the semiconductor company’s stock valued at $1,261,000 after buying an additional 22,999 shares during the period. Barclays PLC boosted its position in Applied Optoelectronics by 280.1% during the 4th quarter. Barclays PLC now owns 151,722 shares of the semiconductor company’s stock valued at $2,931,000 after buying an additional 235,972 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Applied Optoelectronics by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 1,512,221 shares of the semiconductor company’s stock worth $29,216,000 after purchasing an additional 200,163 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $4,738,000. Finally, Oberweis Asset Management Inc. boosted its holdings in shares of Applied Optoelectronics by 90.4% during the fourth quarter. Oberweis Asset Management Inc. now owns 891,915 shares of the semiconductor company’s stock worth $17,232,000 after purchasing an additional 423,500 shares during the period. 41.54% of the stock is currently owned by hedge funds and other institutional investors.
Applied Optoelectronics Trading Down 30.0 %
The firm has a fifty day simple moving average of $19.27 and a two-hundred day simple moving average of $14.40. The firm has a market cap of $506.09 million, a PE ratio of -6.46 and a beta of 2.05.
Applied Optoelectronics (NASDAQ:AAOI – Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.04 EPS for the quarter. Applied Optoelectronics had a negative return on equity of 17.89% and a negative net margin of 28.54%. The business had revenue of $60.50 million during the quarter, compared to analyst estimates of $65.19 million. During the same quarter last year, the firm posted ($0.27) earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts expect that Applied Optoelectronics, Inc. will post -0.81 earnings per share for the current fiscal year.
About Applied Optoelectronics
Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, subassemblies, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to internet data center operators, cable television and telecom equipment manufacturers, and internet service providers through its direct and indirect sales channels.