Harbor Capital Advisors Inc. Acquires Shares of 92,202 Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Harbor Capital Advisors Inc. bought a new position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 92,202 shares of the semiconductor company’s stock, valued at approximately $1,319,000.

A number of other hedge funds have also modified their holdings of AAOI. CANADA LIFE ASSURANCE Co purchased a new stake in Applied Optoelectronics during the 1st quarter valued at about $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 worth $77,000 after buying an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics during the second quarter worth $89,000. Truvestments Capital LLC purchased a new stake in Applied Optoelectronics in the 1st quarter valued at $161,000. Finally, Summit Securities Group LLC purchased a new position in shares of Applied Optoelectronics during the 2nd quarter worth $109,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Optoelectronics

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

Wall Street Analyst Weigh In

AAOI has been the subject of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Applied Optoelectronics in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. B. Riley Financial reiterated a “neutral” rating and issued a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. B. Riley cut their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.75.

Applied Optoelectronics Stock Up 0.9 %

Shares of NASDAQ AAOI opened at $16.54 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $14.82 and its two-hundred day moving average is $11.56. Applied Optoelectronics, Inc. has a 52-week low of $6.70 and a 52-week high of $24.75. The firm has a market cap of $676.49 million, a price-to-earnings ratio of -8.66 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $44.14 million. During the same quarter in the previous year, the business earned ($0.31) EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. 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.