The Manufacturers Life Insurance Company Boosts Holdings in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

The Manufacturers Life Insurance Company boosted its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 3.4% in the third quarter, Holdings Channel.com reports. The fund owned 14,667 shares of the semiconductor company’s stock after buying an additional 483 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Applied Optoelectronics were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AAOI. Truvestments Capital LLC increased its position in shares of Applied Optoelectronics by 24.3% during the third quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 3,097 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Applied Optoelectronics in the third quarter valued at approximately $19,019,000. Citigroup Inc. lifted its stake in Applied Optoelectronics by 4.9% in the third quarter. Citigroup Inc. now owns 345,612 shares of the semiconductor company’s stock valued at $4,946,000 after buying an additional 16,017 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 3,081 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Applied Optoelectronics by 47.7% in the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock valued at $22,847,000 after acquiring an additional 515,489 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.

Insider Buying and Selling at Applied Optoelectronics

In other news, Director Min-Chu (Mike) Chen sold 9,790 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $40.00, for a total transaction of $391,600.00. Following the sale, the director now owns 165,054 shares of the company’s stock, valued at $6,602,160. The trade was a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Yeh sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total value of $430,800.00. Following the completion of the transaction, the director now directly owns 223,538 shares of the company’s stock, valued at $9,630,017.04. The trade was a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,769 shares of company stock valued at $2,813,037. 5.40% of the stock is owned by company insiders.

Applied Optoelectronics Stock Down 3.7 %

AAOI opened at $35.09 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. Applied Optoelectronics, Inc. has a 12 month low of $6.70 and a 12 month high of $44.50. The stock has a market capitalization of $1.58 billion, a P/E ratio of -17.03 and a beta of 2.37. The business has a 50 day simple moving average of $26.45 and a 200-day simple moving average of $16.07.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Raymond James increased their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Northland Securities upped their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley downgraded Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities upped their price target on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.00.

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.