Applied Optoelectronics, Inc. (NASDAQ:AAOI) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,667 shares of the semiconductor company’s stock after acquiring an additional 483 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Applied Optoelectronics were worth $210,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics in the second quarter worth approximately $89,000. Summit Securities Group LLC acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter worth about $109,000. Oppenheimer & Co. Inc. purchased a new stake in Applied Optoelectronics in the 3rd quarter valued at about $186,000. Finally, Sei Investments Co. acquired a new position in Applied Optoelectronics in the second quarter valued at about $194,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Applied Optoelectronics Stock Down 3.7 %

Shares of NASDAQ AAOI opened at $35.09 on Tuesday. Applied Optoelectronics, Inc. has a 12-month low of $6.70 and a 12-month high of $44.50. The stock has a market cap of $1.58 billion, a P/E ratio of -17.03 and a beta of 2.37. 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 business’s fifty day simple moving average is $26.45 and its 200-day simple moving average is $16.07.

Insider Buying and Selling at Applied Optoelectronics

In related news, Director Min-Chu (Mike) Chen sold 9,790 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $40.00, for a total value of $391,600.00. Following the transaction, the director now owns 165,054 shares of the company’s stock, valued at $6,602,160. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William H. Yeh sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $43.08, for a total value of $430,800.00. Following the sale, the director now directly owns 223,538 shares of the company’s stock, valued at $9,630,017.04. This trade represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,769 shares of company stock valued at $2,813,037 in the last quarter. Corporate insiders own 5.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AAOI. B. Riley downgraded shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a research note on Tuesday, December 10th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Raymond James increased their target price on Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Rosenblatt Securities lifted their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday. Finally, Northland Securities boosted their price target on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.00.

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.