Geode Capital Management LLC Increases Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Geode Capital Management LLC increased its stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 909,559 shares of the semiconductor company’s stock after buying an additional 60,241 shares during the quarter. Geode Capital Management LLC owned about 2.02% of Applied Optoelectronics worth $13,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in Applied Optoelectronics during the 2nd quarter worth approximately $956,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 during the period. Rhumbline Advisers purchased a new position in Applied Optoelectronics in the 2nd quarter valued at $449,000. Acuitas Investments LLC increased its stake in Applied Optoelectronics by 38.4% in the 2nd quarter. Acuitas Investments LLC now owns 331,221 shares of the semiconductor company’s stock valued at $2,746,000 after buying an additional 91,885 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Applied Optoelectronics by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 616,701 shares of the semiconductor company’s stock worth $5,113,000 after buying an additional 24,259 shares during the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AAOI shares. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Northland Securities reiterated an “outperform” rating and issued a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. B. Riley cut shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a research note on Tuesday, December 10th. Raymond James raised their price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Finally, Rosenblatt Securities raised their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.20.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, Director William H. Yeh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the transaction, the director now directly owns 223,538 shares in the company, valued at approximately $9,630,017.04. This trade represents a 4.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stefan J. Murry sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total transaction of $157,800.00. Following the transaction, the chief financial officer now owns 216,129 shares of the company’s stock, valued at $6,821,031.24. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,769 shares of company stock worth $3,015,537. 5.40% of the stock is owned by corporate insiders.

Applied Optoelectronics Stock Performance

NASDAQ:AAOI opened at $36.24 on Tuesday. 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 firm has a 50-day moving average price of $29.88 and a two-hundred day moving average price of $17.74. Applied Optoelectronics, Inc. has a twelve month low of $6.70 and a twelve month high of $44.50. The company has a market capitalization of $1.70 billion, a P/E ratio of -17.59 and a beta of 2.37.

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.