Acuitas Investments LLC Lowers Stock Holdings in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Acuitas Investments LLC cut its holdings in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 79.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,666 shares of the semiconductor company's stock after selling 288,624 shares during the period. Applied Optoelectronics comprises approximately 2.3% of Acuitas Investments LLC's investment portfolio, making the stock its 20th biggest holding. Acuitas Investments LLC owned approximately 0.16% of Applied Optoelectronics worth $2,789,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AAOI. The Manufacturers Life Insurance Company grew its stake in shares of Applied Optoelectronics by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company's stock worth $210,000 after purchasing an additional 483 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Applied Optoelectronics by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company's stock worth $1,557,000 after buying an additional 3,081 shares in the last quarter. Truvestments Capital LLC grew its position in Applied Optoelectronics by 24.3% during the third quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company's stock valued at $227,000 after buying an additional 3,097 shares during the period. Rhumbline Advisers increased its holdings in Applied Optoelectronics by 9.1% in the fourth quarter. Rhumbline Advisers now owns 60,348 shares of the semiconductor company's stock valued at $2,224,000 after buying an additional 5,035 shares in the last quarter. Finally, Pingora Partners LLC purchased a new position in Applied Optoelectronics in the third quarter valued at $82,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Min-Chu (Mike) Chen sold 9,790 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $40.00, for a total transaction of $391,600.00. Following the completion of the sale, the director now directly owns 165,054 shares of the company's stock, valued at approximately $6,602,160. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard B. Black sold 8,162 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $37.18, for a total transaction of $303,463.16. The disclosure for this sale can be found here. Insiders have sold a total of 54,250 shares of company stock valued at $1,976,264 in the last 90 days. 5.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AAOI has been the topic of a number of analyst reports. Raymond James raised their target price on Applied Optoelectronics from $17.00 to $39.00 and gave the company an "outperform" rating in a research report on Friday, December 20th. Rosenblatt Securities increased their price target on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research report on Friday, January 31st. B. Riley downgraded Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 target price for the company. in a research note on Tuesday, December 10th. Finally, Northland Securities reissued an "outperform" rating and issued a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $29.20.

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI traded down $0.46 during midday trading on Friday, hitting $27.04. The stock had a trading volume of 7,229,476 shares, compared to its average volume of 3,154,218. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $31.32 and a 200-day simple moving average of $23.44. The company has a market capitalization of $1.27 billion, a PE ratio of -13.13 and a beta of 2.36. Applied Optoelectronics, Inc. has a 1 year low of $6.70 and a 1 year high of $44.50.

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.