Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 6.6% Following Analyst Downgrade

Applied Optoelectronics Inc (NASDAQ:AAOI) shares dropped 6.6% during trading on Thursday after Piper Sandler lowered their price target on the stock from to . The stock traded as low as $6.94 and last traded at $6.96, approximately 936,919 shares changed hands during trading. An increase of 5% from the average daily volume of 894,465 shares. The stock had previously closed at $7.45.

A number of other analysts have also recently commented on the stock. ValuEngine cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research cut shares of Applied Optoelectronics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 17th. B. Riley cut their price target on shares of Applied Optoelectronics from $9.10 to $8.60 and set a “neutral” rating for the company in a research note on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $11.50 price target on shares of Applied Optoelectronics in a research note on Wednesday, March 11th. Finally, BidaskClub upgraded shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $10.09.

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 6,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $12.16, for a total value of $72,960.00. Following the completion of the sale, the chief financial officer now owns 114,291 shares in the company, valued at $1,389,778.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Applied Optoelectronics by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 150,996 shares of the semiconductor company’s stock worth $1,794,000 after buying an additional 919 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Applied Optoelectronics by 76.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,637 shares of the semiconductor company’s stock worth $30,000 after buying an additional 1,141 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Applied Optoelectronics by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 116,747 shares of the semiconductor company’s stock worth $1,387,000 after buying an additional 1,367 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Applied Optoelectronics by 5.2% during the 4th quarter. Rhumbline Advisers now owns 63,641 shares of the semiconductor company’s stock worth $756,000 after buying an additional 3,168 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Applied Optoelectronics by 0.8% during the 3rd quarter. State Street Corp now owns 548,152 shares of the semiconductor company’s stock worth $6,150,000 after buying an additional 4,235 shares during the last quarter. Institutional investors own 59.62% of the company’s stock.

The business’s 50 day moving average price is $9.32 and its 200-day moving average price is $10.77. The company has a current ratio of 2.11, a quick ratio of 1.18 and a debt-to-equity ratio of 0.37. The company has a market cap of $145.66 million, a price-to-earnings ratio of -2.11 and a beta of 1.99.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.19. The company had revenue of $48.66 million during the quarter, compared to analysts’ expectations of $48.09 million. Applied Optoelectronics had a negative net margin of 34.60% and a negative return on equity of 9.54%. Equities research analysts forecast that Applied Optoelectronics Inc will post -1.45 EPS for the current fiscal year.

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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