Affinity Wealth Management LLC Takes $7.97 Million Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Affinity Wealth Management LLC acquired a new position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 216,091 shares of the semiconductor company's stock, valued at approximately $7,965,000. Applied Optoelectronics accounts for about 1.4% of Affinity Wealth Management LLC's holdings, making the stock its 21st biggest position. Affinity Wealth Management LLC owned about 0.46% of Applied Optoelectronics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Westfield Capital Management Co. LP bought a new position in shares of Applied Optoelectronics in the third quarter valued at $19,019,000. Whale Rock Capital Management LLC bought a new position in Applied Optoelectronics in the 3rd quarter valued at about $16,145,000. Royce & Associates LP boosted its stake in Applied Optoelectronics by 47.7% during the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company's stock valued at $22,847,000 after purchasing an additional 515,489 shares during the last quarter. JAT Capital Mgmt LP bought a new stake in Applied Optoelectronics during the 3rd quarter worth approximately $6,470,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Applied Optoelectronics in the fourth quarter worth approximately $12,731,000. Institutional investors own 61.72% of the company's stock.

Insider Activity at Applied Optoelectronics

In other news, Director William H. Yeh sold 10,000 shares of Applied Optoelectronics stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the sale, the director now directly owns 223,538 shares of the company's stock, valued at approximately $9,630,017.04. The trade was a 4.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.35, for a total value of $616,803.05. Following the transaction, the insider now owns 195,572 shares in the company, valued at $5,935,610.20. This trade represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,067 shares of company stock worth $3,513,238. 5.40% of the stock is owned by company insiders.

Applied Optoelectronics Stock Down 5.6 %

Shares of AAOI stock traded down $1.81 on Friday, hitting $30.69. 1,903,724 shares of the stock were exchanged, compared to its average volume of 2,412,581. The firm's 50 day moving average is $34.91 and its two-hundred day moving average is $21.02. Applied Optoelectronics, Inc. has a one year low of $6.70 and a one year high of $44.50. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36.

Wall Street Analyst Weigh In

AAOI has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. StockNews.com raised Applied Optoelectronics to a "sell" rating in a research report on Wednesday. B. Riley lowered Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 target price for the company. in a research report on Tuesday, December 10th. Northland Securities reissued an "outperform" rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Finally, Raymond James raised their price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Applied Optoelectronics currently has a consensus rating of "Hold" and an average target price of $29.20.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers.