Connective Capital Management LLC Buys Shares of 30,122 Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Connective Capital Management LLC bought a new stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 30,122 shares of the semiconductor company’s stock, valued at approximately $250,000. Applied Optoelectronics comprises 0.4% of Connective Capital Management LLC’s investment portfolio, making the stock its 24th biggest position. Connective Capital Management LLC owned about 0.08% of Applied Optoelectronics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nomura Holdings Inc. purchased a new stake in shares of Applied Optoelectronics in the 4th quarter valued at approximately $1,501,000. Goldman Sachs Group Inc. raised its stake in shares of Applied Optoelectronics by 9,687.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock valued at $16,498,000 after acquiring an additional 845,223 shares during the period. Vanguard Group Inc. raised its stake in shares of Applied Optoelectronics by 29.2% in the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock valued at $27,089,000 after acquiring an additional 442,277 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at approximately $956,000. Finally, Swiss National Bank purchased a new stake in shares of Applied Optoelectronics in the 1st quarter valued at approximately $1,123,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider David C. Kuo sold 10,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total transaction of $150,200.00. Following the completion of the sale, the insider now owns 132,921 shares in the company, valued at approximately $1,996,473.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AAOI shares. B. Riley Financial reaffirmed a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Rosenblatt Securities upped their target price on shares of Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, August 9th. B. Riley cut their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.75.

Applied Optoelectronics Trading Down 7.3 %

Shares of Applied Optoelectronics stock opened at $13.73 on Monday. The company has a fifty day simple moving average of $10.62 and a 200-day simple moving average of $10.92. Applied Optoelectronics, Inc. has a 12-month low of $6.66 and a 12-month high of $24.75. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a market cap of $534.21 million, a price-to-earnings ratio of -7.54 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The business had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. During the same quarter in the prior year, the business posted ($0.31) EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Applied Optoelectronics, Inc. will post -1.08 EPS for the current fiscal year.

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.