Raymond James Financial Inc. Takes Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Raymond James Financial Inc. acquired a new stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 177,859 shares of the semiconductor company's stock, valued at approximately $6,556,000. Raymond James Financial Inc. owned about 0.38% of Applied Optoelectronics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Applied Optoelectronics by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 2,429,418 shares of the semiconductor company's stock valued at $89,548,000 after acquiring an additional 241,594 shares in the last quarter. Virtu Financial LLC purchased a new stake in Applied Optoelectronics during the 3rd quarter worth approximately $353,000. Emerald Advisers LLC increased its position in shares of Applied Optoelectronics by 15.3% in the 4th quarter. Emerald Advisers LLC now owns 606,997 shares of the semiconductor company's stock valued at $22,374,000 after acquiring an additional 80,539 shares during the period. Affinity Wealth Management LLC purchased a new position in Applied Optoelectronics during the 4th quarter worth approximately $7,965,000. Finally, State Street Corp lifted its position in Applied Optoelectronics by 27.7% during the third quarter. State Street Corp now owns 887,259 shares of the semiconductor company's stock valued at $12,697,000 after purchasing an additional 192,308 shares during the period. Hedge funds and other institutional investors own 61.72% of the company's stock.

Insider Buying and Selling at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 2,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.06, for a total value of $46,120.00. Following the completion of the sale, the chief financial officer now owns 196,581 shares in the company, valued at approximately $4,533,157.86. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.96% of the stock is owned by company insiders.

Applied Optoelectronics Stock Performance

Shares of NASDAQ:AAOI traded down $0.34 during midday trading on Tuesday, hitting $12.73. The stock had a trading volume of 503,111 shares, compared to its average volume of 3,138,622. Applied Optoelectronics, Inc. has a 1 year low of $6.70 and a 1 year high of $44.50. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $16.53 and a two-hundred day moving average price of $24.88. The company has a market capitalization of $704.35 million, a PE ratio of -6.18 and a beta of 2.57.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The company had revenue of $100.27 million for the quarter, compared to analysts' expectations of $99.92 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. As a group, equities analysts predict that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on AAOI shares. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research report on Wednesday, February 26th. Raymond James restated an "outperform" rating and issued a $20.00 price target on shares of Applied Optoelectronics in a research report on Thursday, April 24th. B. Riley upgraded shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price target for the company in a report on Friday, March 7th. Finally, Rosenblatt Securities reduced their price objective on shares of Applied Optoelectronics from $36.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One research 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's stock. According to data from MarketBeat.com, Applied Optoelectronics currently has a consensus rating of "Hold" and a consensus target price of $22.40.

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.