Allspring Global Investments Holdings LLC Purchases New Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,176 shares of the semiconductor company’s stock, valued at approximately $303,000. Allspring Global Investments Holdings LLC owned about 0.05% of Applied Optoelectronics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co purchased a new stake in Applied Optoelectronics during the first quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 6,787 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Applied Optoelectronics during the second quarter valued at approximately $89,000. Summit Securities Group LLC purchased a new stake in Applied Optoelectronics during the second quarter valued at approximately $109,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Applied Optoelectronics during the second quarter valued at approximately $118,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Applied Optoelectronics Price Performance

Shares of AAOI stock opened at $16.84 on Friday. Applied Optoelectronics, Inc. has a 52-week low of $6.70 and a 52-week high of $24.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64. The firm has a market capitalization of $688.76 million, a P/E ratio of -8.82 and a beta of 1.96. The stock has a 50 day moving average price of $14.69 and a 200 day moving average price of $11.54.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The firm had revenue of $43.27 million during the quarter, compared to analyst estimates of $44.14 million. During the same period last year, the company earned ($0.31) EPS. Applied Optoelectronics’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that Applied Optoelectronics, Inc. will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AAOI shares. Raymond James upgraded Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a research report on Tuesday, September 3rd. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. B. Riley decreased their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. B. Riley Financial reissued a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Applied Optoelectronics in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.75.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the completion of the sale, the insider now directly owns 132,921 shares of the company’s stock, valued at $1,996,473.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

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.