CenterBook Partners LP Sells 476,707 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

CenterBook Partners LP decreased its position in Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 74.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 165,509 shares of the semiconductor company's stock after selling 476,707 shares during the period. CenterBook Partners LP owned approximately 0.35% of Applied Optoelectronics worth $6,101,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Applied Optoelectronics by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company's stock valued at $1,557,000 after purchasing an additional 3,081 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Applied Optoelectronics by 3.4% in 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. FMR LLC raised its stake in shares of Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company's stock valued at $88,000 after purchasing an additional 5,956 shares during the period. State Street Corp lifted its holdings in shares of Applied Optoelectronics by 27.7% in the third quarter. State Street Corp now owns 887,259 shares of the semiconductor company's stock valued at $12,697,000 after purchasing an additional 192,308 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Applied Optoelectronics during the third quarter worth about $1,109,000. Institutional investors and hedge funds own 61.72% of the company's stock.

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Analysts Set New Price Targets

AAOI has been the topic of several research reports. Raymond James cut their target price on Applied Optoelectronics from $31.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday. Northland Securities reissued an "outperform" rating and issued a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 target price on shares of Applied Optoelectronics in a research note on Friday, March 14th. B. Riley upgraded Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price objective on the stock in a research note on Friday, March 7th. Finally, StockNews.com raised Applied Optoelectronics to a "sell" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $23.60.

Applied Optoelectronics Stock Performance

Shares of Applied Optoelectronics stock traded down $0.32 during trading on Monday, reaching $10.96. The company's stock had a trading volume of 1,785,448 shares, compared to its average volume of 3,100,554. Applied Optoelectronics, Inc. has a 52 week low of $6.70 and a 52 week high of $44.50. The firm has a market cap of $546.37 million, a PE ratio of -5.32 and a beta of 2.57. The business's 50-day moving average price is $20.10 and its 200-day moving average price is $25.17. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. The business had revenue of $100.27 million for the quarter, compared to analyst estimates of $99.92 million. Equities analysts forecast that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Insider Transactions at Applied Optoelectronics

In related news, CFO Stefan J. Murry sold 2,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.06, for a total transaction of $46,120.00. Following the sale, the chief financial officer now owns 196,581 shares in the company, valued at approximately $4,533,157.86. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard B. Black sold 10,000 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the transaction, the director now directly owns 157,813 shares of the company's stock, valued at $4,576,577. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,298 shares of company stock valued at $543,821. 4.96% of the stock is owned by corporate insiders.

About Applied Optoelectronics

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.