Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Down After Insider Selling

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $33.30, but opened at $32.24. Applied Optoelectronics shares last traded at $32.53, with a volume of 263,087 shares traded.

Specifically, CFO Stefan J. Murry sold 2,298 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total transaction of $80,820.66. Following the completion of the transaction, the chief financial officer now directly owns 209,831 shares in the company, valued at $7,379,756.27. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stefan J. Murry sold 4,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $31.72, for a total transaction of $126,880.00. Following the transaction, the chief financial officer now directly owns 212,129 shares of the company’s stock, valued at $6,728,731.88. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In other Applied Optoelectronics news, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the director now owns 157,813 shares in the company, valued at $4,576,577. The trade was a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Raymond James raised their price target on Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, December 20th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Wednesday. Rosenblatt Securities boosted their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a report on Friday, December 13th. Northland Securities reaffirmed an “outperform” rating and set a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Finally, B. Riley cut Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $34.91 and a two-hundred day simple moving average of $20.93.

Hedge Funds Weigh In On Applied Optoelectronics

Several large investors have recently modified their holdings of the business. Royce & Associates LP raised its stake in Applied Optoelectronics by 47.7% during the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock worth $22,847,000 after buying an additional 515,489 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Applied Optoelectronics during the 3rd quarter worth about $19,019,000. Whale Rock Capital Management LLC bought a new position in shares of Applied Optoelectronics in the 3rd quarter worth about $16,145,000. Shellback Capital LP acquired a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $8,617,000. Finally, Geode Capital Management LLC boosted its position in shares of Applied Optoelectronics by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company’s stock valued at $13,018,000 after purchasing an additional 60,241 shares in the last quarter. Institutional investors own 61.72% of the company’s stock.

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.