Polymer Capital Management HK LTD Takes $1.10 Million Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Polymer Capital Management HK LTD bought a new stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 29,900 shares of the semiconductor company's stock, valued at approximately $1,102,000. Polymer Capital Management HK LTD owned 0.06% of Applied Optoelectronics at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Corebridge Financial Inc. lifted its holdings in shares of Applied Optoelectronics by 2.4% in the 4th quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company's stock valued at $747,000 after buying an additional 471 shares during the period. The Manufacturers Life Insurance Company raised its position in Applied Optoelectronics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company's stock valued at $210,000 after acquiring an additional 483 shares in the last quarter. Arizona State Retirement System lifted its holdings in Applied Optoelectronics by 5.7% in the fourth quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company's stock valued at $415,000 after acquiring an additional 603 shares during the period. Virtu Financial LLC lifted its holdings in Applied Optoelectronics by 3.6% in the fourth quarter. Virtu Financial LLC now owns 25,529 shares of the semiconductor company's stock valued at $941,000 after acquiring an additional 895 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Applied Optoelectronics in the 4th quarter worth approximately $38,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI traded down $0.54 during trading on Friday, hitting $11.18. The company had a trading volume of 1,752,607 shares, compared to its average volume of 3,085,251. Applied Optoelectronics, Inc. has a fifty-two week low of $6.70 and a fifty-two week 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. The stock has a fifty day simple moving average of $20.42 and a two-hundred day simple moving average of $25.13. The firm has a market capitalization of $557.33 million, a price-to-earnings ratio of -5.39 and a beta of 2.57.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $100.27 million during the quarter, compared to analyst estimates of $99.92 million. On average, research analysts expect that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Insider Activity at Applied Optoelectronics

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.06, for a total value of $46,120.00. Following the completion of the sale, the chief financial officer now owns 196,581 shares in the company, valued at approximately $4,533,157.86. This represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction that occurred 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 owns 157,813 shares in the company, valued at approximately $4,576,577. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,298 shares of company stock valued at $543,821. 4.96% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $36.00 target price on shares of Applied Optoelectronics in a research note on Friday, March 14th. Raymond James upped their price objective on shares of Applied Optoelectronics to $31.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Northland Securities reissued an "outperform" rating and set a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research note on Wednesday, February 26th. Finally, B. Riley upgraded Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price target on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $25.80.

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.