Driehaus Capital Management LLC Sells 2,575,435 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Driehaus Capital Management LLC trimmed its position in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 75.4% during the second quarter, Holdings Channel reports. The institutional investor owned 841,974 shares of the semiconductor company’s stock after selling 2,575,435 shares during the quarter. Driehaus Capital Management LLC’s holdings in Applied Optoelectronics were worth $6,980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co bought a new position in Applied Optoelectronics in the 1st quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Applied Optoelectronics by 272.1% in the 2nd 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 acquired a new position in shares of Applied Optoelectronics in the 2nd quarter valued at $89,000. Truvestments Capital LLC acquired a new position in shares of Applied Optoelectronics in the 1st quarter valued at $161,000. Finally, Summit Securities Group LLC acquired a new position in shares of Applied Optoelectronics in the 2nd quarter valued at $109,000. 61.72% of the stock is currently owned by institutional investors.

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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AAOI shares. Raymond James raised Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a research note on Tuesday, September 3rd. B. Riley Financial reissued a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research note on Friday, August 9th. Rosenblatt Securities increased their price target on Applied Optoelectronics from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, B. Riley dropped their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Applied Optoelectronics has a consensus rating of “Hold” and a consensus price target of $13.75.

Applied Optoelectronics Stock Performance

Shares of Applied Optoelectronics stock opened at $13.73 on Monday. The company has a market capitalization of $534.21 million, a PE ratio of -7.54 and a beta of 1.96. Applied Optoelectronics, Inc. has a 12 month low of $6.66 and a 12 month high of $24.75. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $10.62 and its 200 day simple moving average is $10.92.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data 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 business had revenue of $43.27 million for the quarter, compared to the consensus estimate of $44.14 million. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) EPS. On average, research analysts predict that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

Applied Optoelectronics 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.