Applied Optoelectronics (NASDAQ:AAOI) Stock Price Passes Below Two Hundred Day Moving Average of $11.53

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.53 and traded as low as $9.13. Applied Optoelectronics shares last traded at $10.30, with a volume of 3,665,754 shares changing hands.

Analysts Set New Price Targets

AAOI has been the subject of a number of research reports. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, August 9th. B. Riley decreased their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. B. Riley Financial reiterated a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Applied Optoelectronics presently has an average rating of “Hold” and an average price target of $11.00.

Applied Optoelectronics Stock Up 10.2 %

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.79 and a quick ratio of 1.06. The stock’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $11.47. The stock has a market cap of $441.61 million, a P/E ratio of -6.24 and a beta of 1.97.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. Applied Optoelectronics had a negative return on equity of 16.30% and a negative net margin of 30.65%. The business had revenue of $43.27 million for the quarter, compared to analysts’ expectations of $44.14 million. During the same period in the prior year, the firm earned ($0.31) EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts anticipate that Applied Optoelectronics, Inc. will post -0.66 earnings per share for the current year.

Institutional Trading of Applied Optoelectronics

Hedge funds have recently bought and sold shares of the company. Shellback Capital LP acquired a new position in Applied Optoelectronics during the 2nd quarter worth $8,617,000. Goldman Sachs Group Inc. lifted its holdings in Applied Optoelectronics by 9,687.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock worth $16,498,000 after purchasing an additional 845,223 shares during the period. Assenagon Asset Management S.A. grew its position in Applied Optoelectronics by 875.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 631,799 shares of the semiconductor company’s stock valued at $8,757,000 after buying an additional 567,056 shares in the last quarter. Vanguard Group Inc. increased its stake in Applied Optoelectronics by 29.2% during the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock valued at $27,089,000 after buying an additional 442,277 shares during the period. Finally, Caxton Associates LP raised its position in shares of Applied Optoelectronics by 550.5% during the 2nd quarter. Caxton Associates LP now owns 411,054 shares of the semiconductor company’s stock worth $3,408,000 after buying an additional 347,867 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors.

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.