Rice Hall James & Associates LLC Grows Stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Rice Hall James & Associates LLC increased its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 75.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 235,763 shares of the semiconductor company’s stock after purchasing an additional 101,640 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.61% of Applied Optoelectronics worth $3,374,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co bought a new stake in shares of Applied Optoelectronics in the first quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Applied Optoelectronics in the 2nd quarter valued at about $89,000. Summit Securities Group LLC purchased a new stake in Applied Optoelectronics during the second quarter valued at about $109,000. Finally, The Manufacturers Life Insurance Company bought a new position in Applied Optoelectronics during the second quarter worth about $118,000. Institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Trading Up 7.8 %

Applied Optoelectronics stock opened at $16.84 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64. Applied Optoelectronics, Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $24.75. The stock has a market cap of $688.76 million, a P/E ratio of -8.82 and a beta of 1.96. The firm’s fifty day moving average price is $14.69 and its 200-day moving average price is $11.54.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share 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 analysts’ expectations of $44.14 million. During the same quarter last year, the firm posted ($0.31) EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Applied Optoelectronics, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of the stock in a transaction 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 transaction, the insider now owns 132,921 shares of the company’s stock, valued at $1,996,473.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AAOI. B. Riley Financial reissued a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Raymond James raised Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price target for the company in a report on Tuesday, September 3rd. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. B. Riley dropped their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Applied Optoelectronics in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.75.

About Applied Optoelectronics

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.