Alliance Fiber Optic Products Insider Sells $10,804,320 in Stock (AFOP)
Alliance Fiber Optic Products (NASDAQ:AFOP) Insider Peter Chang sold 488,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $22.14, for a total transaction of $10,804,320.00. Following the completion of the transaction, the insider now directly owns 2,134,640 shares of the company’s stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on AFOP shares. Analysts at B. Riley raised their price target on shares of Alliance Fiber Optic Products (NASDAQ:AFOP) from $15.60 to $19.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock.
Shares of Alliance Fiber Optic Products (NASDAQ:AFOP) traded down 2.20% on Friday, hitting $22.23. The stock had a trading volume of 1,010,912 shares. Alliance Fiber Optic Products has a 52-week low of $4.40 and a 52-week high of $23.94. The stock’s 50-day moving average is $17.8 and its 200-day moving average is $11.75. The company has a market cap of $401.6 million and a P/E ratio of 29.83.
Alliance Fiber Optic Products (NASDAQ:AFOP) last announced its earnings results on Tuesday, July 23rd. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.47 by $0.02. The company had revenue of $19.00 million for the quarter, compared to the consensus estimate of $19.10 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 65.2% on a year-over-year basis. Analysts expect that Alliance Fiber Optic Products will post $0.97 EPS for the current fiscal year.
Alliance Fiber Optic Products Inc (NASDAQ:AFOP) designs, manufactures and markets a range of fiber optic components, and integrated modules incorporating these components, for communications equipment manufacturers and service providers.
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