Portolan Capital Management LLC Sells 321,685 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Portolan Capital Management LLC lessened its holdings in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 48.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 336,907 shares of the semiconductor company's stock after selling 321,685 shares during the period. Portolan Capital Management LLC owned about 0.72% of Applied Optoelectronics worth $12,418,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AAOI. Corebridge Financial Inc. increased its position in Applied Optoelectronics by 2.4% during the 4th quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company's stock valued at $747,000 after purchasing an additional 471 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Applied Optoelectronics by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company's stock worth $210,000 after buying an additional 483 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Applied Optoelectronics by 5.7% during the 4th quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company's stock worth $415,000 after purchasing an additional 603 shares during the period. Summit Investment Advisors Inc. increased its holdings in Applied Optoelectronics by 17.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company's stock valued at $157,000 after buying an additional 637 shares in the last quarter. Finally, Virtu Financial LLC increased its stake in shares of Applied Optoelectronics by 3.6% in the 4th quarter. Virtu Financial LLC now owns 25,529 shares of the semiconductor company's stock valued at $941,000 after purchasing an additional 895 shares in the last quarter. Institutional investors own 61.72% of the company's stock.

Applied Optoelectronics Stock Up 2.2 %

Shares of NASDAQ:AAOI traded up $0.23 on Friday, reaching $10.66. The company had a trading volume of 2,060,004 shares, compared to its average volume of 3,113,998. 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 moving average price of $18.61 and a 200 day moving average price of $24.93. Applied Optoelectronics, Inc. has a twelve month low of $6.70 and a twelve month high of $44.50. The stock has a market capitalization of $531.41 million, a P/E ratio of -5.17 and a beta of 2.57.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. B. Riley raised shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 target price for the company in a report on Friday, March 7th. Raymond James cut their price target on Applied Optoelectronics from $31.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday. StockNews.com raised Applied Optoelectronics to a "sell" rating in a report on Wednesday, February 26th. Finally, Rosenblatt Securities restated a "buy" rating and set a $36.00 target price on shares of Applied Optoelectronics in a research report on Friday, March 14th. 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 stock. According to MarketBeat.com, Applied Optoelectronics currently has a consensus rating of "Hold" and an average price target of $23.60.

Insider Activity

In other news, CFO Stefan J. Murry sold 2,298 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total transaction of $80,820.66. Following the transaction, the chief financial officer now directly owns 209,831 shares in the company, valued at $7,379,756.27. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.96% of the stock is currently owned by 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.