Oppenheimer & Co. Inc. Invests $186,000 in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Oppenheimer & Co. Inc. purchased a new position in Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,017 shares of the semiconductor company’s stock, valued at approximately $186,000.

Other hedge funds have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co bought a new position in shares of Applied Optoelectronics during the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $89,000. Emerald Mutual Fund Advisers Trust raised its stake in shares of Applied Optoelectronics by 2.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company’s stock worth $5,869,000 after acquiring an additional 11,037 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $109,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Insider Transactions at Applied Optoelectronics

In related news, Director Elizabeth G. Loboa sold 13,494 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $36.54, for a total transaction of $493,070.76. Following the sale, the director now directly owns 124,500 shares of the company’s stock, valued at approximately $4,549,230. This represents a 9.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total transaction of $616,803.05. Following the sale, the insider now directly owns 195,572 shares in the company, valued at $5,935,610.20. This trade represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $1,687,174 over the last 90 days. 5.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on AAOI shares. Rosenblatt Securities upped their price target on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a research note on Friday, November 8th. B. Riley cut their price target 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. B. Riley Financial restated a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Raymond James upped their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Northland Securities upped their price target on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One equities research 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. According to MarketBeat, Applied Optoelectronics has a consensus rating of “Hold” and a consensus target price of $18.70.

Applied Optoelectronics Stock Up 7.0 %

NASDAQ:AAOI opened at $37.99 on Friday. The firm has a market capitalization of $1.71 billion, a P/E ratio of -18.44 and a beta of 1.96. Applied Optoelectronics, Inc. has a 1-year low of $6.70 and a 1-year high of $38.94. The company’s fifty day moving average price is $19.08 and its 200-day moving average price is $13.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06.

About Applied Optoelectronics

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.