Applied Optoelectronics, Inc. (NASDAQ:AAOI) Shares Purchased by Fmr LLC

Fmr LLC raised its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 3,290.6% in the third quarter, Holdings Channel.com reports. The fund owned 6,137 shares of the semiconductor company’s stock after buying an additional 5,956 shares during the quarter. Fmr LLC’s holdings in Applied Optoelectronics were worth $88,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in Applied Optoelectronics by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock valued at $210,000 after buying an additional 483 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Applied Optoelectronics by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock worth $1,557,000 after acquiring an additional 3,081 shares in the last quarter. Truvestments Capital LLC boosted its holdings in Applied Optoelectronics by 24.3% in the third quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 3,097 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Applied Optoelectronics by 272.1% during 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 in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Applied Optoelectronics during the 2nd quarter worth approximately $89,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Applied Optoelectronics Price Performance

NASDAQ AAOI opened at $36.72 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.72 billion, a PE ratio of -17.83 and a beta of 2.36. Applied Optoelectronics, Inc. has a 12-month low of $6.70 and a 12-month high of $44.50. The company has a 50 day moving average price of $27.83 and a two-hundred day moving average price of $16.73.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AAOI shares. Raymond James raised their price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday. Northland Securities reiterated an “outperform” rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Rosenblatt Securities lifted their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, B. Riley lowered Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.20.

Insider Activity

In other news, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $35.27, for a total value of $352,700.00. Following the transaction, the director now directly owns 167,813 shares in the company, valued at approximately $5,918,764.51. The trade was a 5.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total value of $616,803.05. Following the transaction, the insider now owns 195,572 shares of the company’s stock, valued at approximately $5,935,610.20. This trade represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,769 shares of company stock worth $3,015,537. 5.40% of the stock is owned by corporate insiders.

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.