Applied Optoelectronics, Inc. (NASDAQ:AAOI) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 182.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 976,520 shares of the semiconductor company's stock after acquiring an additional 631,128 shares during the quarter. Assenagon Asset Management S.A. owned about 1.96% of Applied Optoelectronics worth $14,990,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Applied Optoelectronics in the 1st quarter valued at $370,000. GAMMA Investing LLC grew its position in Applied Optoelectronics by 9,789.9% during the 1st quarter. GAMMA Investing LLC now owns 14,736 shares of the semiconductor company's stock worth $2,260,000 after purchasing an additional 14,587 shares during the last quarter. California State Teachers Retirement System increased its stake in Applied Optoelectronics by 4.4% in the fourth quarter. California State Teachers Retirement System now owns 36,471 shares of the semiconductor company's stock valued at $1,344,000 after purchasing an additional 1,524 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Applied Optoelectronics in the fourth quarter valued at about $5,068,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Applied Optoelectronics by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,959 shares of the semiconductor company's stock valued at $2,910,000 after buying an additional 11,684 shares during the last quarter. 61.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider David C. Kuo sold 11,426 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.10, for a total value of $218,236.60. Following the sale, the insider now directly owns 153,900 shares of the company's stock, valued at approximately $2,939,490. This trade represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hung-Lun (Fred) Chang sold 23,837 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $19.06, for a total value of $454,333.22. Following the sale, the insider now directly owns 278,842 shares of the company's stock, valued at approximately $5,314,728.52. This trade represents a 7.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,263 shares of company stock valued at $726,570. Corporate insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

AAOI has been the topic of a number of research reports. Wall Street Zen lowered Applied Optoelectronics from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Rosenblatt Securities increased their price objective on Applied Optoelectronics to $30.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Raymond James Financial dropped their target price on Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. B. Riley upgraded Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price target for the company in a research note on Friday, March 7th. Finally, Northland Securities increased their price target on Applied Optoelectronics to $50.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $24.00.

Applied Optoelectronics Stock Performance

NASDAQ AAOI traded down $0.31 on Tuesday, hitting $16.78. 4,191,607 shares of the company's stock were exchanged, compared to its average volume of 3,446,541. The firm has a market cap of $931.96 million, a price-to-earnings ratio of -4.35 and a beta of 2.64. The firm's 50-day moving average price is $15.21 and its two-hundred day moving average price is $22.97. Applied Optoelectronics, Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $44.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.88 and a quick ratio of 1.34.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. Applied Optoelectronics had a negative return on equity of 15.40% and a negative net margin of 55.98%. The firm had revenue of $99.86 million during the quarter, compared to analysts' expectations of $99.37 million. During the same quarter in the prior year, the business posted ($0.31) earnings per share. Applied Optoelectronics's revenue was up 145.5% compared to the same quarter last year. On average, research analysts expect that Applied Optoelectronics, Inc. will post -1.18 EPS for the current year.

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.