Royce & Associates LP trimmed its stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 52.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 760,690 shares of the semiconductor company's stock after selling 835,855 shares during the quarter. Royce & Associates LP owned about 1.62% of Applied Optoelectronics worth $28,039,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in 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 last quarter. Arizona State Retirement System increased its position in 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 buying an additional 603 shares during the period. Truvestments Capital LLC lifted its holdings in shares of Applied Optoelectronics by 7.1% during the fourth quarter. Truvestments Capital LLC now owns 16,995 shares of the semiconductor company's stock worth $626,000 after buying an additional 1,133 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Applied Optoelectronics by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company's stock valued at $1,557,000 after acquiring an additional 3,081 shares during the period. Finally, Swiss National Bank grew its stake in shares of Applied Optoelectronics by 6.4% in the fourth quarter. Swiss National Bank now owns 76,400 shares of the semiconductor company's stock valued at $2,816,000 after acquiring an additional 4,600 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AAOI has been the subject of a number of recent research reports. Rosenblatt Securities reissued a "buy" rating and issued a $36.00 price objective on shares of Applied Optoelectronics in a report on Friday, March 14th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research note on Wednesday, February 26th. Raymond James upped their target price on Applied Optoelectronics to $31.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Northland Securities restated an "outperform" rating and issued a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Finally, B. Riley raised shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price objective for the company 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 given a buy rating to the stock. According to data from MarketBeat, Applied Optoelectronics currently has a consensus rating of "Hold" and a consensus target price of $25.80.
Check Out Our Latest Research Report on AAOI
Applied Optoelectronics Price Performance
Shares of AAOI traded down $0.05 during midday trading on Thursday, hitting $21.08. The company's stock had a trading volume of 2,947,761 shares, compared to its average volume of 2,899,122. 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, Inc. has a one year low of $6.70 and a one year high of $44.50. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -10.23 and a beta of 2.36. The company's fifty day simple moving average is $25.41 and its two-hundred day simple moving average is $24.92.
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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The business had revenue of $100.27 million during the quarter, compared to the consensus estimate of $99.92 million. Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. As a group, equities analysts expect that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Richard B. Black sold 10,000 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the transaction, the director now directly owns 157,813 shares in the company, valued at approximately $4,576,577. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stefan J. Murry sold 2,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 196,581 shares of the company's stock, valued at $4,533,157.86. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,298 shares of company stock worth $543,821 in the last three months. 5.40% of the stock is owned by corporate insiders.
About Applied Optoelectronics
(
Free Report)
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.
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