Applied Optoelectronics (AAOI) Shares Down 5.6%

Applied Optoelectronics Inc (NASDAQ:AAOI) shares fell 5.6% during mid-day trading on Friday . The company traded as low as $9.16 and last traded at $9.17. 997,498 shares traded hands during trading, an increase of 16% from the average session volume of 859,480 shares. The stock had previously closed at $9.71.

A number of research analysts have weighed in on AAOI shares. TheStreet cut shares of Applied Optoelectronics from a “c-” rating to a “d+” rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Applied Optoelectronics in a report on Monday, April 15th. BidaskClub raised shares of Applied Optoelectronics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 13th. Finally, Piper Jaffray Companies cut their price objective on shares of Applied Optoelectronics from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.50.

The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.32. The firm has a market cap of $182.37 million, a price-to-earnings ratio of 17.30 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). Applied Optoelectronics had a negative net margin of 5.78% and a negative return on equity of 0.36%. The firm had revenue of $52.72 million during the quarter, compared to analysts’ expectations of $52.86 million. During the same period in the previous year, the firm posted $0.28 EPS. The firm’s quarterly revenue was down 19.2% on a year-over-year basis. On average, analysts predict that Applied Optoelectronics Inc will post -1.52 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Applied Optoelectronics by 1.7% during the first quarter. BlackRock Inc. now owns 2,870,945 shares of the semiconductor company’s stock worth $35,028,000 after purchasing an additional 47,046 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Applied Optoelectronics by 5.7% during the third quarter. Vanguard Group Inc now owns 1,170,718 shares of the semiconductor company’s stock worth $28,870,000 after purchasing an additional 63,087 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Applied Optoelectronics by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,170,718 shares of the semiconductor company’s stock worth $28,870,000 after purchasing an additional 63,087 shares in the last quarter. Morgan Stanley increased its stake in shares of Applied Optoelectronics by 69.7% during the first quarter. Morgan Stanley now owns 833,348 shares of the semiconductor company’s stock worth $10,167,000 after purchasing an additional 342,216 shares in the last quarter. Finally, Investment Counselors of Maryland LLC increased its stake in shares of Applied Optoelectronics by 2.2% during the fourth quarter. Investment Counselors of Maryland LLC now owns 449,510 shares of the semiconductor company’s stock worth $6,936,000 after purchasing an additional 9,529 shares in the last quarter. 59.16% of the stock is owned by institutional investors and hedge funds.

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About Applied Optoelectronics (NASDAQ:AAOI)

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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