Royce & Associates LP Buys 515,489 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Royce & Associates LP lifted its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 47.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,596,545 shares of the semiconductor company's stock after acquiring an additional 515,489 shares during the period. Royce & Associates LP owned approximately 3.90% of Applied Optoelectronics worth $22,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AAOI. CANADA LIFE ASSURANCE Co bought a new position in Applied Optoelectronics in the first quarter valued at about $46,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company's stock valued at $77,000 after purchasing an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics during the 2nd quarter worth approximately $89,000. Summit Securities Group LLC bought a new position in Applied Optoelectronics in the 2nd quarter valued at approximately $109,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Applied Optoelectronics in the second quarter valued at approximately $118,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Applied Optoelectronics Trading Down 4.8 %

NASDAQ AAOI traded down $1.35 during mid-day trading on Friday, reaching $26.80. 3,451,010 shares of the stock were exchanged, compared to its average volume of 2,595,185. 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 $1.21 billion, a P/E ratio of -13.01 and a beta of 1.96. The stock has a 50 day simple moving average of $17.16 and a 200-day simple moving average of $12.38. Applied Optoelectronics, Inc. has a one year low of $6.70 and a one year high of $29.17.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $26.93, for a total transaction of $269,300.00. Following the transaction, the insider now directly owns 118,122 shares in the company, valued at approximately $3,181,025.46. This represents a 7.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Rosenblatt Securities upped their price target on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the stock a "buy" rating in a report on Friday, November 8th. B. Riley Financial reiterated a "neutral" rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a report on Friday, October 25th. Northland Securities upped their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, B. Riley cut their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $18.70.

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.