Applied Optoelectronics Inc. (NASDAQ:AAOI)’s share price dropped 3.9% during trading on Tuesday . The stock traded as low as $21.05 and last traded at $21.17, with a volume of 252,673 shares changing hands. The stock had previously closed at $22.03.

AAOI has been the subject of several research analyst reports. Roth Capital reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, September 8th. TheStreet upgraded shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Craig Hallum increased their price target on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, August 25th. Finally, Zacks Investment Research upgraded shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.83.

The firm has a market cap of $364.40 million, a P/E ratio of 78.45 and a beta of 2.37. The firm has a 50-day moving average of $16.16 and a 200 day moving average of $13.34.

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Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.10. Applied Optoelectronics had a return on equity of 6.01% and a net margin of 2.16%. The business earned $55.30 million during the quarter, compared to the consensus estimate of $50.84 million. During the same period in the previous year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts expect that Applied Optoelectronics Inc. will post $0.70 earnings per share for the current year.

In other news, CFO Stefan J. Murry sold 3,660 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $19.05, for a total transaction of $69,723.00. Following the completion of the transaction, the chief financial officer now directly owns 35,093 shares of the company’s stock, valued at $668,521.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 8.19% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. bought a new position in shares of Applied Optoelectronics during the second quarter worth approximately $3,192,000. Signia Capital Management LLC acquired a new stake in Applied Optoelectronics during the second quarter valued at $1,664,000. Quantitative Systematic Strategies LLC boosted its stake in Applied Optoelectronics by 55.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,881 shares of the company’s stock valued at $165,000 after buying an additional 5,645 shares during the last quarter. Bank of Montreal Can acquired a new stake in Applied Optoelectronics during the second quarter valued at $172,000. Finally, Selz Capital LLC boosted its stake in Applied Optoelectronics by 32.8% in the second quarter. Selz Capital LLC now owns 405,000 shares of the company’s stock valued at $4,516,000 after buying an additional 100,000 shares during the last quarter. 78.60% of the stock is owned by institutional investors and hedge funds.

About Applied Optoelectronics

Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products. The Company offers its products for approximately three networking end markets, such as Internet data center; cable television (CATV), and fiber-to-the-home (FTTH). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.

5 Day Chart for NASDAQ:AAOI

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