Caitong International Asset Management Co. Ltd Purchases Shares of 23,228 Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Key Points

• Caitong International Asset Management Co. Ltd acquired 23,228 shares of Applied Optoelectronics, valued at approximately $357,000, during the first quarter.
• Applied Optoelectronics recently reported quarterly earnings of ($0.16) EPS, missing analysts' estimates, while revenue grew by 137.9% year-over-year.
• Despite recent struggles, analysts have mixed ratings on the stock, with a consensus price target of $27.20 and a distribution of buy, hold, and sell recommendations.

Caitong International Asset Management Co. Ltd purchased a new position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 23,228 shares of the semiconductor company's stock, valued at approximately $357,000.

Several other large investors also recently added to or reduced their stakes in AAOI. Sterling Capital Management LLC grew its position in 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 period. Canada Pension Plan Investment Board acquired a new stake in shares of Applied Optoelectronics during the 4th quarter worth approximately $63,000. Summit Investment Advisors Inc. increased its position in Applied Optoelectronics by 17.6% in 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 period. Arizona State Retirement System boosted 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 worth $200,000 after acquiring an additional 1,790 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Applied Optoelectronics in the first quarter worth $291,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 3,000 shares of the company'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 transaction, the chief financial officer directly owned 318,036 shares in the company, valued at $8,733,268.56. This represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.50% of the company's stock.

Applied Optoelectronics Stock Up 9.3%

Shares of Applied Optoelectronics stock opened at $22.79 on Wednesday. Applied Optoelectronics, Inc. has a 12 month low of $7.72 and a 12 month high of $44.50. The company has a quick ratio of 1.47, a current ratio of 2.11 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.42 billion, a PE ratio of -6.78 and a beta of 2.72. The business has a fifty day simple moving average of $23.58 and a 200 day simple moving average of $20.34.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.08). Applied Optoelectronics had a negative net margin of 42.29% and a negative return on equity of 10.60%. The company had revenue of $102.95 million for the quarter, compared to analyst estimates of $104.96 million. During the same quarter last year, the firm posted ($0.28) EPS. Applied Optoelectronics's revenue for the quarter was up 137.9% on a year-over-year basis. Research analysts predict that Applied Optoelectronics, Inc. will post -1.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wolfe Research started coverage on shares of Applied Optoelectronics in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Wall Street Zen lowered shares of Applied Optoelectronics from a "hold" rating to a "sell" rating in a report on Saturday. Raymond James Financial increased their target price on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday. Rosenblatt Securities lifted their target price on shares of Applied Optoelectronics from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, B. Riley reiterated a "neutral" rating and issued a $15.00 target price (up previously from $13.00) on shares of Applied Optoelectronics in a research note on Friday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $27.20.

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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