Portolan Capital Management LLC Sells 321,685 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Portolan Capital Management LLC cut its stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 48.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 336,907 shares of the semiconductor company's stock after selling 321,685 shares during the quarter. Portolan Capital Management LLC owned approximately 0.72% of Applied Optoelectronics worth $12,418,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AAOI. Corebridge Financial Inc. boosted its holdings in Applied Optoelectronics by 2.4% in the fourth quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company's stock valued at $747,000 after acquiring an additional 471 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Applied Optoelectronics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company's stock worth $210,000 after buying an additional 483 shares during the period. Arizona State Retirement System raised its stake in Applied Optoelectronics by 5.7% during the fourth quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company's stock worth $415,000 after buying an additional 603 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Applied Optoelectronics by 17.6% in the fourth 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 during the period. Finally, Virtu Financial LLC boosted its position in Applied Optoelectronics by 3.6% during the fourth quarter. Virtu Financial LLC now owns 25,529 shares of the semiconductor company's stock valued at $941,000 after acquiring an additional 895 shares during the last quarter. Institutional investors own 61.72% of the company's stock.

Applied Optoelectronics Stock Performance

Applied Optoelectronics stock traded up $0.23 during mid-day trading on Friday, reaching $10.66. 2,060,004 shares of the company's stock were exchanged, compared to its average volume of 3,117,053. The firm has a market capitalization of $531.41 million, a PE ratio of -5.17 and a beta of 2.57. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The business's fifty day simple moving average is $18.26 and its 200 day simple moving average is $24.91. Applied Optoelectronics, Inc. has a one year low of $6.70 and a one year high of $44.50.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last released its earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The business had revenue of $100.27 million for the quarter, compared to the consensus estimate of $99.92 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. On average, 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 news, CFO Stefan J. Murry sold 2,298 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total transaction of $80,820.66. Following the completion of the sale, the chief financial officer now owns 209,831 shares in the company, valued at $7,379,756.27. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 6,298 shares of company stock worth $148,841 over the last three months. 4.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AAOI. Raymond James lowered their price objective on Applied Optoelectronics from $31.00 to $20.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research note on Wednesday, February 26th. B. Riley upgraded Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price objective for the company in a report on Friday, March 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $36.00 price objective on shares of Applied Optoelectronics in a report on Friday, March 14th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $23.60.

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.