Geode Capital Management LLC Raises Stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Geode Capital Management LLC lifted its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 909,559 shares of the semiconductor company’s stock after buying an additional 60,241 shares during the quarter. Geode Capital Management LLC’s holdings in Applied Optoelectronics were worth $13,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Applied Optoelectronics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock worth $210,000 after buying an additional 483 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Applied Optoelectronics by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock worth $1,557,000 after buying an additional 3,081 shares in the last quarter. Truvestments Capital LLC grew 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 period. Pingora Partners LLC purchased a new stake in Applied Optoelectronics in the third quarter valued at approximately $82,000. Finally, FMR LLC grew its holdings in Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 5,956 shares during the period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $26.93, for a total transaction of $269,300.00. Following the transaction, the insider now directly owns 118,122 shares of the company’s stock, valued at approximately $3,181,025.46. The trade was a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total transaction of $616,803.05. Following the transaction, the insider now directly owns 195,572 shares in the company, valued at approximately $5,935,610.20. The trade was a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,769 shares of company stock valued at $3,015,537 over the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Applied Optoelectronics Trading Down 4.0 %

Shares of AAOI stock opened at $36.24 on Tuesday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -17.59 and a beta of 2.37. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. Applied Optoelectronics, Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $44.50. The firm’s 50 day moving average price is $29.88 and its two-hundred day moving average price is $17.74.

Analysts Set New Price Targets

A number of research firms recently issued reports on AAOI. Rosenblatt Securities boosted their target price on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a report on Friday, December 13th. B. Riley downgraded shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a report on Tuesday, December 10th. Northland Securities restated an “outperform” rating and issued a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Finally, Raymond James boosted their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Two equities research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.20.

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.