1,039,438 Shares in Applied Optoelectronics, Inc. (NASDAQ:AAOI) Bought by Shellback Capital LP

Shellback Capital LP purchased a new stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,039,438 shares of the semiconductor company’s stock, valued at approximately $8,617,000.

Several other hedge funds also recently added to or reduced their stakes in AAOI. CANADA LIFE ASSURANCE Co purchased a new stake in Applied Optoelectronics during the first quarter worth $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter valued at about $89,000. Summit Securities Group LLC purchased a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $109,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Applied Optoelectronics in the 2nd quarter worth about $118,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total value of $150,200.00. Following the sale, the insider now owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AAOI shares. B. Riley Financial reaffirmed a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Rosenblatt Securities upped their target price on shares of Applied Optoelectronics from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, August 9th. B. Riley decreased their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Raymond James upgraded shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Applied Optoelectronics currently has an average rating of “Hold” and a consensus price target of $13.75.

Applied Optoelectronics Stock Down 3.7 %

Shares of AAOI opened at $14.81 on Friday. 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 stock has a market capitalization of $576.23 million, a PE ratio of -8.14 and a beta of 1.96. The company’s 50-day simple moving average is $10.54 and its 200-day simple moving average is $10.97. Applied Optoelectronics, Inc. has a 1 year low of $6.66 and a 1 year high of $24.75.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly 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. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The business had revenue of $43.27 million during the quarter, compared to the consensus estimate of $44.14 million. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts forecast that Applied Optoelectronics, Inc. will post -1.08 earnings per share for the current fiscal year.

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.