Raging Capital Management LLC bought a new stake in Applied Optoelectronics Inc (NASDAQ:AAOI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 112,250 shares of the semiconductor company’s stock, valued at approximately $4,245,000. Applied Optoelectronics comprises approximately 0.6% of Raging Capital Management LLC’s portfolio, making the stock its 26th largest position. Raging Capital Management LLC owned about 0.58% of Applied Optoelectronics as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its holdings in Applied Optoelectronics by 11.2% during the 3rd quarter. New York State Teachers Retirement System now owns 13,900 shares of the semiconductor company’s stock valued at $899,000 after purchasing an additional 1,400 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Applied Optoelectronics by 11.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,671 shares of the semiconductor company’s stock valued at $907,000 after purchasing an additional 1,461 shares during the period. Comerica Bank increased its holdings in Applied Optoelectronics by 9.4% during the 3rd quarter. Comerica Bank now owns 20,309 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 1,737 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in Applied Optoelectronics by 27.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,488 shares of the semiconductor company’s stock valued at $548,000 after purchasing an additional 1,838 shares during the period. Finally, Resources Investment Advisors Inc. increased its holdings in Applied Optoelectronics by 218.5% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,796 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 1,918 shares during the period. 61.76% of the stock is owned by institutional investors.
Applied Optoelectronics Inc (NASDAQ:AAOI) traded down $2.33 during mid-day trading on Thursday, hitting $26.79. The company’s stock had a trading volume of 2,255,621 shares, compared to its average volume of 1,730,000. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.25 and a quick ratio of 2.18. The stock has a market cap of $522.42, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 1.09 and a beta of 2.58. Applied Optoelectronics Inc has a 1 year low of $26.11 and a 1 year high of $103.41.
A number of brokerages recently issued reports on AAOI. BidaskClub upgraded Applied Optoelectronics from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Craig Hallum set a $32.00 price target on Applied Optoelectronics and gave the company a “hold” rating in a report on Tuesday, February 13th. Zacks Investment Research upgraded Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Cowen reiterated an “outperform” rating and set a $53.00 target price (down previously from $60.00) on shares of Applied Optoelectronics in a report on Thursday, February 22nd. Finally, Piper Jaffray Companies downgraded Applied Optoelectronics from an “overweight” rating to a “neutral” rating in a report on Monday, January 29th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $48.03.
In related news, Director Richard B. Black sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $35.37, for a total value of $35,370.00. Following the sale, the director now owns 34,478 shares in the company, valued at approximately $1,219,486.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.19% of the company’s stock.
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Applied Optoelectronics Profile
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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