Applied Optoelectronics (AAOI) Stock Price Down 5.2%

Applied Optoelectronics Inc (NASDAQ:AAOI) dropped 5.2% on Thursday . The company traded as low as $21.26 and last traded at $22.42. Approximately 51,330 shares changed hands during trading, a decline of 96% from the average daily volume of 1,389,782 shares. The stock had previously closed at $21.32.

AAOI has been the topic of a number of recent analyst reports. Zacks Investment Research cut Applied Optoelectronics from a “hold” rating to a “sell” rating in a report on Tuesday. Needham & Company LLC cut Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. They noted that the move was a valuation call. BidaskClub cut Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a report on Tuesday. JPMorgan Chase & Co. cut Applied Optoelectronics to a “sell” rating in a report on Thursday, September 27th. Finally, Loop Capital reaffirmed a “hold” rating and set a $45.00 price target on shares of Applied Optoelectronics in a report on Wednesday, August 8th. Nine equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Applied Optoelectronics currently has an average rating of “Hold” and a consensus price target of $31.91.

The firm has a market cap of $485.75 million, a price-to-earnings ratio of 5.42, a P/E/G ratio of 0.93 and a beta of 2.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.22 and a quick ratio of 1.92.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Tuesday, August 7th. The semiconductor company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.30. Applied Optoelectronics had a net margin of 10.95% and a return on equity of 14.77%. The business had revenue of $87.82 million for the quarter, compared to analyst estimates of $77.29 million. On average, sell-side analysts predict that Applied Optoelectronics Inc will post 1.89 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Gravity Wealth Inc. acquired a new position in shares of Applied Optoelectronics during the first quarter valued at approximately $143,000. Pinebridge Investments L.P. acquired a new position in shares of Applied Optoelectronics during the second quarter valued at approximately $166,000. PNC Financial Services Group Inc. increased its stake in shares of Applied Optoelectronics by 29.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the semiconductor company’s stock valued at $195,000 after acquiring an additional 1,744 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Applied Optoelectronics during the second quarter valued at approximately $202,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Applied Optoelectronics during the second quarter valued at approximately $204,000. Institutional investors and hedge funds own 72.36% of the company’s stock.

Applied Optoelectronics Company Profile (NASDAQ:AAOI)

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, 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 telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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