GSA Capital Partners LLP Sells 63,989 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

GSA Capital Partners LLP trimmed its position in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 70.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 26,915 shares of the semiconductor company’s stock after selling 63,989 shares during the period. GSA Capital Partners LLP owned 0.07% of Applied Optoelectronics worth $385,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AAOI. CANADA LIFE ASSURANCE Co bought a new position in Applied Optoelectronics in the first quarter valued at about $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Applied Optoelectronics during the 2nd quarter worth approximately $89,000. Summit Securities Group LLC acquired a new position in Applied Optoelectronics in the 2nd quarter valued at approximately $109,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Applied Optoelectronics during the second quarter valued at $118,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Insider Transactions at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $26.93, for a total transaction of $269,300.00. Following the transaction, the insider now owns 118,122 shares of the company’s stock, valued at $3,181,025.46. This represents a 7.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.40% of the company’s stock.

Applied Optoelectronics Trading Up 4.7 %

Shares of AAOI stock opened at $35.68 on Friday. Applied Optoelectronics, Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $38.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The stock has a 50 day simple moving average of $18.61 and a two-hundred day simple moving average of $12.96. The company has a market cap of $1.61 billion, a P/E ratio of -17.32 and a beta of 1.96.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AAOI shares. Raymond James increased their price objective on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Northland Securities increased their price target on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley Financial reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Rosenblatt Securities upped their target price on Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.70.

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.