Concentric Capital Strategies LP bought a new stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,926 shares of the semiconductor company's stock, valued at approximately $771,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in Applied Optoelectronics in the fourth quarter valued at $38,000. Sterling Capital Management LLC grew its holdings in shares of Applied Optoelectronics by 858.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company's stock worth $47,000 after buying an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Applied Optoelectronics in the 4th quarter valued at about $63,000. Summit Investment Advisors Inc. raised its stake in Applied Optoelectronics by 17.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company's stock valued at $157,000 after acquiring an additional 637 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Applied Optoelectronics during the 4th quarter worth approximately $229,000. Hedge funds and other institutional investors own 61.72% of the company's stock.
Insider Buying and Selling at Applied Optoelectronics
In related 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 sale, the chief financial officer now directly owns 196,581 shares of the company's stock, valued at approximately $4,533,157.86. This represents a 1.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.96% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on AAOI. B. Riley raised Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 target price on the stock in a report on Friday, March 7th. StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a research note on Wednesday, February 26th. Rosenblatt Securities reduced their target price on shares of Applied Optoelectronics from $36.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Raymond James reiterated an "outperform" rating and set a $20.00 price target on shares of Applied Optoelectronics in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $22.40.
View Our Latest Research Report on Applied Optoelectronics
Applied Optoelectronics Price Performance
Applied Optoelectronics stock opened at $13.98 on Thursday. 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 one year low of $6.70 and a one year high of $44.50. The company has a market cap of $776.09 million, a P/E ratio of -6.79 and a beta of 2.55. The business has a fifty day moving average of $14.96 and a two-hundred day moving average of $24.58.
Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $100.27 million for the quarter, compared to analysts' expectations of $99.92 million. As a group, analysts predict that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal year.
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.
See Also
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