Catalyst Capital Advisors LLC reduced its holdings in Applied Optoelectronics Inc (NASDAQ:AAOI) by 23.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,720 shares of the semiconductor company’s stock after selling 3,280 shares during the quarter. Catalyst Capital Advisors LLC owned 0.06% of Applied Optoelectronics worth $694,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Applied Optoelectronics by 86.8% during the 2nd quarter. BlackRock Inc. now owns 2,093,297 shares of the semiconductor company’s stock valued at $129,346,000 after purchasing an additional 972,428 shares during the last quarter. FMR LLC bought a new position in Applied Optoelectronics during the 2nd quarter worth approximately $45,101,000. Balyasny Asset Management LLC bought a new position in Applied Optoelectronics during the 2nd quarter worth approximately $44,798,000. State of Tennessee Treasury Department grew its position in Applied Optoelectronics by 113.9% during the 3rd quarter. State of Tennessee Treasury Department now owns 815,552 shares of the semiconductor company’s stock worth $52,742,000 after acquiring an additional 434,207 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Applied Optoelectronics by 49.8% in the 2nd quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock worth $58,917,000 after buying an additional 317,033 shares during the period. Institutional investors and hedge funds own 76.69% of the company’s stock.
A number of research analysts have recently commented on AAOI shares. Cowen restated an “outperform” rating and issued a $102.00 target price (up previously from $100.00) on shares of Applied Optoelectronics in a research note on Wednesday, August 9th. Roth Capital restated a “buy” rating and issued a $90.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 10th. Vetr upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating and set a $76.81 target price for the company in a research note on Wednesday, August 9th. BWS Financial set a $25.00 price objective on Applied Optoelectronics and gave the company a “sell” rating in a research report on Wednesday, August 16th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $80.00 price objective (down previously from $95.00) on shares of Applied Optoelectronics in a research report on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $60.20.
Shares of Applied Optoelectronics Inc (AAOI) traded down $1.90 on Thursday, hitting $38.84. The company had a trading volume of 2,192,699 shares, compared to its average volume of 2,580,423. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. Applied Optoelectronics Inc has a one year low of $21.88 and a one year high of $103.41. The company has a market capitalization of $757.97, a price-to-earnings ratio of 10.09, a P/E/G ratio of 0.59 and a beta of 2.88.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.23). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The firm had revenue of $88.90 million during the quarter, compared to the consensus estimate of $88.53 million. During the same period in the previous year, the firm earned $0.38 EPS. The business’s revenue was up 26.8% on a year-over-year basis. research analysts anticipate that Applied Optoelectronics Inc will post 4.22 earnings per share for the current fiscal year.
In related news, Director Chewei Lin sold 7,000 shares of Applied Optoelectronics stock in a transaction on Monday, September 11th. The stock was sold at an average price of $58.00, for a total transaction of $406,000.00. Following the transaction, the director now directly owns 45,638 shares in the company, valued at $2,647,004. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard B. Black sold 1,000 shares of Applied Optoelectronics stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $60.62, for a total value of $60,620.00. The disclosure for this sale can be found here. Insiders sold 13,900 shares of company stock valued at $731,374 in the last ninety days. 8.19% of the stock is currently owned by corporate insiders.
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About Applied Optoelectronics
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.
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