The Manufacturers Life Insurance Company Buys New Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

The Manufacturers Life Insurance Company purchased a new position in Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,184 shares of the semiconductor company’s stock, valued at approximately $118,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Applied Optoelectronics by 29.2% during the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after acquiring an additional 442,277 shares during the last quarter. Hood River Capital Management LLC lifted its stake in Applied Optoelectronics by 6.5% during the first quarter. Hood River Capital Management LLC now owns 1,439,404 shares of the semiconductor company’s stock worth $19,950,000 after purchasing an additional 88,281 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in Applied Optoelectronics by 30.0% during the first quarter. Whale Rock Capital Management LLC now owns 1,333,957 shares of the semiconductor company’s stock worth $18,489,000 after purchasing an additional 308,172 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 worth $16,498,000 after purchasing an additional 845,223 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Applied Optoelectronics by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 616,701 shares of the semiconductor company’s stock valued at $5,113,000 after purchasing an additional 24,259 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Insider Activity at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the business’s 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 transaction, the insider now directly owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is owned by corporate insiders.

Applied Optoelectronics Stock Down 2.3 %

Shares of NASDAQ AAOI opened at $18.57 on Monday. The firm’s fifty day moving average is $13.02 and its 200 day moving average is $11.20. Applied Optoelectronics, Inc. has a 52 week low of $6.66 and a 52 week high of $24.75. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. The company has a market cap of $722.52 million, a price-to-earnings ratio of -10.20 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. The firm had revenue of $43.27 million for the quarter, compared to analysts’ expectations of $44.14 million. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.31) earnings per share. On average, equities research analysts expect that Applied Optoelectronics, Inc. will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on AAOI shares. Raymond James upgraded Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research report on Tuesday, September 3rd. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Thursday. B. Riley reduced their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. B. Riley Financial reissued a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Applied Optoelectronics in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.75.

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.