Blueshift Asset Management LLC Makes New $291,000 Investment in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Key Points

• Blueshift Asset Management has made a new investment of approximately $291,000 in Applied Optoelectronics, acquiring 18,953 shares of the semiconductor company during the first quarter.
• Applied Optoelectronics reported earnings of ($0.02) EPS, exceeding estimates and achieving a 145.5% revenue increase compared to the previous year, with revenues of $99.86 million.
• Institutional investors hold 61.72% of Applied Optoelectronics' stock, which includes significant recent activity from other hedge funds, notably a 858.2% increase in holdings by Sterling Capital Management.

Blueshift Asset Management LLC purchased a new position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 18,953 shares of the semiconductor company's stock, valued at approximately $291,000.

A number of other hedge funds have also recently modified their holdings of the business. Sterling Capital Management LLC raised its holdings in Applied Optoelectronics by 858.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 1,150 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Applied Optoelectronics in the fourth quarter worth about $63,000. Summit Investment Advisors Inc. lifted its position in shares of 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 buying an additional 637 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Applied Optoelectronics by 15.9% during the 1st quarter. Arizona State Retirement System now owns 13,036 shares of the semiconductor company's stock valued at $200,000 after acquiring an additional 1,790 shares during the period. Finally, Pictet Asset Management Holding SA purchased a new stake in Applied Optoelectronics in the 4th quarter worth approximately $245,000. Institutional investors own 61.72% of the company's stock.

Applied Optoelectronics Stock Down 5.9%

Shares of AAOI stock opened at $21.53 on Friday. The company's fifty day simple moving average is $22.87 and its two-hundred day simple moving average is $20.79. Applied Optoelectronics, Inc. has a 52 week low of $6.70 and a 52 week high of $44.50. The stock has a market cap of $1.20 billion, a P/E ratio of -5.58 and a beta of 2.72. The company has a quick ratio of 1.34, a current ratio of 1.88 and a debt-to-equity ratio of 0.47.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $99.37 million. During the same period in the previous year, the firm posted ($0.31) earnings per share. The business's revenue was up 145.5% compared to the same quarter last year. Analysts predict that Applied Optoelectronics, Inc. will post -1.18 EPS for the current fiscal year.

Insider Transactions at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $27.46, for a total value of $82,380.00. Following the sale, the chief financial officer directly owned 318,036 shares in the company, valued at $8,733,268.56. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Chih-Hsiang (Thompson) Lin bought 21,200 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average price of $18.22 per share, for a total transaction of $386,264.00. Following the completion of the transaction, the chief executive officer directly owned 1,659,025 shares in the company, valued at approximately $30,227,435.50. This represents a 1.29% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 40,263 shares of company stock valued at $787,050 over the last quarter. 4.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on AAOI shares. Needham & Company LLC initiated coverage on shares of Applied Optoelectronics in a report on Friday, July 25th. They set a "buy" rating and a $32.00 price target on the stock. Rosenblatt Securities lifted their target price on shares of Applied Optoelectronics from $30.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Wall Street Zen upgraded Applied Optoelectronics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Northland Securities boosted their price objective on Applied Optoelectronics to $50.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Finally, Raymond James Financial cut their target price on Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.00.

Applied Optoelectronics Company 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.

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