Applied Optoelectronics, Inc. (NASDAQ:AAOI) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC decreased its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 66.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 510,594 shares of the semiconductor company's stock after selling 1,011,454 shares during the period. Driehaus Capital Management LLC owned approximately 1.09% of Applied Optoelectronics worth $18,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Concentric Capital Strategies LP bought a new position in Applied Optoelectronics during the fourth quarter valued at $771,000. Centiva Capital LP bought a new position in shares of Applied Optoelectronics in the fourth quarter worth about $2,081,000. Bank of America Corp DE grew its holdings in Applied Optoelectronics by 1,058.6% during the 4th quarter. Bank of America Corp DE now owns 339,550 shares of the semiconductor company's stock worth $12,516,000 after acquiring an additional 310,243 shares in the last quarter. Northern Trust Corp grew its holdings in Applied Optoelectronics by 22.4% during the 4th quarter. Northern Trust Corp now owns 400,195 shares of the semiconductor company's stock worth $14,751,000 after acquiring an additional 73,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Applied Optoelectronics by 11.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 16,333 shares of the semiconductor company's stock worth $602,000 after acquiring an additional 1,666 shares in the last quarter. Institutional investors own 61.72% of the company's stock.

Applied Optoelectronics Stock Performance

AAOI stock traded up $2.05 during trading on Tuesday, reaching $20.29. The company had a trading volume of 6,939,078 shares, compared to its average volume of 3,216,330. The firm has a 50-day simple moving average of $14.83 and a 200-day simple moving average of $24.64. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -9.85 and a beta of 2.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. Applied Optoelectronics, Inc. has a twelve month low of $6.70 and a twelve month high of $44.50.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last released its earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. The company had revenue of $99.86 million during the quarter, compared to analysts' expectations of $99.37 million. Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. Applied Optoelectronics's revenue for the quarter was up 145.5% on a year-over-year basis. During the same period last year, the business earned ($0.31) EPS. As a group, sell-side analysts expect that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,000 shares of Applied Optoelectronics stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.06, for a total transaction of $46,120.00. Following the completion of the sale, the chief financial officer now directly owns 196,581 shares in the company, valued at approximately $4,533,157.86. The trade was a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.96% of the company's stock.

Wall Street Analyst Weigh In

AAOI has been the topic of several recent research reports. Raymond James dropped their target price on shares of Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday. StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a research report on Wednesday, February 26th. Rosenblatt Securities increased their price target on shares of Applied Optoelectronics to $30.00 and gave the company a "buy" rating in a research report on Friday. Finally, B. Riley raised shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price target 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 assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $22.00.

Applied Optoelectronics 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.