Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 4.4% After Insider Selling

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shares were down 4.4% during trading on Friday following insider selling activity. The stock traded as low as $30.97 and last traded at $31.08. Approximately 1,256,881 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 2,825,300 shares. The stock had previously closed at $32.50.

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 value of $80,820.66. Following the sale, the chief financial officer now directly owns 209,831 shares of the company’s stock, valued at approximately $7,379,756.27. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AAOI. Raymond James upped their price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a research note on Tuesday, December 10th. Rosenblatt Securities increased their target price on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Northland Securities reissued an “outperform” rating and set a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Applied Optoelectronics currently has a consensus rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Trading Down 4.3 %

The firm has a market cap of $1.46 billion, a P/E ratio of -15.06 and a beta of 2.39. 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 firm’s 50-day simple moving average is $34.83 and its 200 day simple moving average is $20.78.

Hedge Funds Weigh In On Applied Optoelectronics

Several large investors have recently modified their holdings of AAOI. Pingora Partners LLC bought a new stake in shares of Applied Optoelectronics in the 3rd quarter worth approximately $82,000. FMR LLC lifted its holdings in shares of Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Applied Optoelectronics in the 2nd quarter worth approximately $89,000. The Manufacturers Life Insurance Company bought a new stake in Applied Optoelectronics during the 2nd quarter valued at $118,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Applied Optoelectronics during the 3rd quarter valued at $186,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Company Profile

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.