State Street Corp Increases Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

State Street Corp lifted its holdings in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 27.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 887,259 shares of the semiconductor company’s stock after acquiring an additional 192,308 shares during the quarter. State Street Corp owned 1.97% of Applied Optoelectronics worth $12,697,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Applied Optoelectronics by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock worth $210,000 after buying an additional 483 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Applied Optoelectronics by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock valued at $1,557,000 after acquiring an additional 3,081 shares during the last quarter. Truvestments Capital LLC grew its position in shares of Applied Optoelectronics by 24.3% during the 3rd quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock valued at $227,000 after acquiring an additional 3,097 shares during the period. Pingora Partners LLC purchased a new stake in shares of Applied Optoelectronics during the 3rd quarter worth approximately $82,000. Finally, FMR LLC raised its holdings in shares of Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 5,956 shares during the period. 61.72% of the stock is currently owned by institutional investors.

Applied Optoelectronics Price Performance

Shares of Applied Optoelectronics stock opened at $39.82 on Thursday. The firm has a market capitalization of $1.87 billion, a PE ratio of -19.33 and a beta of 2.36. The business’s 50-day moving average price is $29.06 and its 200-day moving average price is $17.28. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. Applied Optoelectronics, Inc. has a 12 month low of $6.70 and a 12 month high of $44.50.

Insider Buying and Selling

In other Applied Optoelectronics news, Director Min-Chu (Mike) Chen sold 9,790 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $40.00, for a total transaction of $391,600.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David C. Kuo sold 10,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $26.93, for a total transaction of $269,300.00. Following the sale, the insider now owns 118,122 shares of the company’s stock, valued at approximately $3,181,025.46. This represents a 7.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,769 shares of company stock worth $3,015,537 in the last 90 days. 5.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AAOI has been the topic of several recent research reports. B. Riley downgraded shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective on the stock. in a report on Tuesday, December 10th. Rosenblatt Securities raised their price target on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Northland Securities reissued an “outperform” rating and set a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Finally, Raymond James upped their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.20.

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.