Applied Optoelectronics (NASDAQ:AAOI) Rating Lowered to Sell at Wall Street Zen

Applied Optoelectronics (NASDAQ:AAOI) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other research firms have also issued reports on AAOI. B. Riley raised shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a report on Friday, March 7th. Rosenblatt Securities boosted their price target on shares of Applied Optoelectronics to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Raymond James dropped their price objective on shares of Applied Optoelectronics from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Applied Optoelectronics presently has a consensus rating of “Hold” and an average target price of $22.00.

Applied Optoelectronics Trading Up 1.5%

Shares of Applied Optoelectronics stock opened at $17.88 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. Applied Optoelectronics has a twelve month low of $6.70 and a twelve month high of $44.50. The firm has a market capitalization of $992.59 million, a PE ratio of -8.68 and a beta of 2.55. The firm’s 50-day moving average price is $15.04 and its 200 day moving average price is $24.67.

Applied Optoelectronics (NASDAQ:AAOI) last announced its earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $99.86 million during the quarter, compared to analysts’ expectations of $99.37 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. The business’s revenue was up 145.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.31) earnings per share. On average, sell-side analysts predict that Applied Optoelectronics will post -1.18 EPS for the current fiscal year.

Insider Activity

In other news, insider David C. Kuo sold 11,426 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.10, for a total transaction of $218,236.60. Following the sale, the insider now owns 153,900 shares of the company’s stock, valued at approximately $2,939,490. This represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stefan J. Murry sold 2,000 shares of Applied Optoelectronics stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.06, for a total transaction of $46,120.00. Following the completion of the transaction, the chief financial officer now owns 196,581 shares of the company’s stock, valued at $4,533,157.86. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,263 shares of company stock valued at $740,590. 4.96% of the stock is currently owned by insiders.

Institutional Trading of Applied Optoelectronics

Several hedge funds have recently modified their holdings of the stock. AlphaQuest LLC raised its position in Applied Optoelectronics by 243.9% in the 1st quarter. AlphaQuest LLC now owns 2,297 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 1,629 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Applied Optoelectronics during the fourth quarter worth about $38,000. Sterling Capital Management LLC increased its stake in shares of Applied Optoelectronics by 858.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company’s stock worth $47,000 after buying an additional 1,150 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Applied Optoelectronics in the fourth quarter valued at approximately $63,000. Finally, Quantbot Technologies LP acquired a new stake in Applied Optoelectronics in the first quarter valued at approximately $66,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.