Applied Optoelectronics Inc. (NASDAQ:AAOI) dropped 3.9% during mid-day trading on Thursday . The stock traded as low as $12.24 and last traded at $12.24, with a volume of 148,894 shares. The stock had previously closed at $12.74.

AAOI has been the topic of several research analyst reports. Zacks Investment Research cut shares of Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 21st. Piper Jaffray Cos. reissued a “buy” rating and issued a $14.00 target price (down from $21.00) on shares of Applied Optoelectronics in a research report on Tuesday, May 10th. Finally, Cowen and Company reissued a “buy” rating on shares of Applied Optoelectronics in a research report on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.75.

The firm has a market cap of $208.85 million and a PE ratio of 20.59. The firm’s 50-day moving average price is $10.99 and its 200 day moving average price is $13.22.

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

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

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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