Shares of Applied Optoelectronics Inc. (NASDAQ:AAOI) dropped 2.9% on Monday . The company traded as low as $10.89 and last traded at $10.97, with a volume of 261,203 shares traded. The stock had previously closed at $11.30.

AAOI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a report on Thursday, April 21st. Piper Jaffray Cos. reiterated a “buy” rating and set a $14.00 price target (down from $21.00) on shares of Applied Optoelectronics in a report on Tuesday, May 10th. Finally, Cowen and Company reiterated a “buy” rating on shares of Applied Optoelectronics in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $20.80.

The company has a market cap of $189.04 million and a P/E ratio of 18.64. The stock has a 50-day moving average price of $10.43 and a 200-day moving average price of $13.66.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.08. During the same period in the prior year, the company earned $0.02 earnings per share. The firm had revenue of $50.40 million for the quarter, compared to the consensus estimate of $51.03 million. The business’s revenue was up 66.9% compared to the same quarter last year. Equities analysts forecast that Applied Optoelectronics Inc. will post $0.42 earnings per share for the current fiscal year.

In other Applied Optoelectronics news, Director Min-Chu (Mike) Chen purchased 10,000 shares of the stock in a transaction on Friday, May 27th. The stock was acquired at an average cost of $9.98 per share, with a total value of $99,800.00. Following the completion of the purchase, the director now directly owns 13,262 shares of the company’s stock, valued at approximately $132,354.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan D. Moore purchased 105,000 shares of the stock in a transaction on Thursday, June 16th. The stock was acquired at an average cost of $10.08 per share, with a total value of $1,058,400.00. Following the completion of the purchase, the director now directly owns 222,542 shares of the company’s stock, valued at $2,243,223.36. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in Applied Optoelectronics stock. Russell Frank Co raised its stake in Applied Optoelectronics Inc. (NASDAQ:AAOI) by 187.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 387,812 shares of the company’s stock after buying an additional 253,115 shares during the period. Russell Frank Co owned about 2.30% of Applied Optoelectronics worth $6,903,000 at the end of the most recent reporting period.

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

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