Hood River Capital Management LLC Sells 64,000 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Hood River Capital Management LLC cut its stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,375,404 shares of the semiconductor company’s stock after selling 64,000 shares during the quarter. Hood River Capital Management LLC owned approximately 3.54% of Applied Optoelectronics worth $11,402,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Applied Optoelectronics by 29.2% during the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock worth $27,089,000 after purchasing an additional 442,277 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in Applied Optoelectronics by 30.0% in the first quarter. Whale Rock Capital Management LLC now owns 1,333,957 shares of the semiconductor company’s stock worth $18,489,000 after acquiring an additional 308,172 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Applied Optoelectronics by 9,687.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock worth $16,498,000 after acquiring an additional 845,223 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong grew its stake in Applied Optoelectronics by 30.4% in the first quarter. CloudAlpha Capital Management Limited Hong Kong now owns 831,200 shares of the semiconductor company’s stock valued at $11,520,000 after acquiring an additional 194,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Applied Optoelectronics by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 616,701 shares of the semiconductor company’s stock valued at $5,113,000 after acquiring an additional 24,259 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAOI has been the topic of a number of recent research reports. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Friday, August 9th. B. Riley reduced their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Rosenblatt Securities boosted their target price on shares of Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, B. Riley Financial reiterated a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Applied Optoelectronics presently has an average rating of “Hold” and a consensus price target of $13.75.

Applied Optoelectronics Stock Performance

Shares of AAOI stock opened at $13.83 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The firm has a 50-day moving average of $10.20 and a 200-day moving average of $10.91. Applied Optoelectronics, Inc. has a one year low of $6.66 and a one year high of $24.75. The company has a market cap of $538.10 million, a P/E ratio of -7.60 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.01. The firm had revenue of $43.27 million for the quarter, compared to analysts’ expectations of $44.14 million. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.31) EPS. Equities research analysts forecast that Applied Optoelectronics, Inc. will post -1.08 EPS for the current fiscal year.

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.