Geode Capital Management LLC Has $13.02 Million Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Geode Capital Management LLC increased its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 909,559 shares of the semiconductor company's stock after purchasing an additional 60,241 shares during the quarter. Geode Capital Management LLC owned approximately 2.02% of Applied Optoelectronics worth $13,018,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Royce & Associates LP grew its stake in Applied Optoelectronics by 47.7% during the third quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company's stock worth $22,847,000 after buying an additional 515,489 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Applied Optoelectronics during the 3rd quarter worth approximately $19,019,000. Whale Rock Capital Management LLC bought a new stake in Applied Optoelectronics during the 3rd quarter worth approximately $16,145,000. Shellback Capital LP acquired a new stake in Applied Optoelectronics during the 2nd quarter valued at $8,617,000. Finally, State Street Corp raised its position in Applied Optoelectronics by 27.7% in the 3rd 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 during the last quarter. 61.72% of the stock is owned by institutional investors.

Applied Optoelectronics Trading Up 1.7 %

Shares of NASDAQ AAOI traded up $0.62 during mid-day trading on Tuesday, hitting $36.86. The company's stock had a trading volume of 2,301,830 shares, compared to its average volume of 2,747,659. Applied Optoelectronics, Inc. has a one year low of $6.70 and a one year high of $44.50. The company's fifty day simple moving average is $30.24 and its 200-day simple moving average is $17.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -17.89 and a beta of 2.37.

Insider Activity at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 5,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $31.56, for a total value of $157,800.00. Following the completion of the sale, the chief financial officer now directly owns 216,129 shares of the company's stock, valued at $6,821,031.24. This represents a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Elizabeth G. Loboa sold 13,494 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $36.54, for a total transaction of $493,070.76. Following the completion of the sale, the director now owns 124,500 shares in the company, valued at $4,549,230. This represents a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,769 shares of company stock worth $3,015,537 over the last ninety days. Company insiders own 5.40% of the company's stock.

Wall Street Analysts Forecast Growth

AAOI has been the topic of several research analyst reports. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a report on Friday, October 25th. Northland Securities reissued an "outperform" rating and set a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. B. Riley downgraded shares of 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. Rosenblatt Securities increased their price target on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Raymond James raised their price target on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an "outperform" rating in a report on Friday, December 20th. Two investment 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.com, the company has an average rating of "Hold" and a consensus price target of $29.20.

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.