Oppenheimer & Co. Inc. Acquires Shares of 13,017 Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Oppenheimer & Co. Inc. acquired a new stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) during the 3rd quarter, HoldingsChannel reports. The fund acquired 13,017 shares of the semiconductor company’s stock, valued at approximately $186,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co purchased a new position in Applied Optoelectronics during the first quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics during the second quarter valued at $89,000. Emerald Mutual Fund Advisers Trust lifted its holdings in Applied Optoelectronics by 2.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company’s stock valued at $5,869,000 after purchasing an additional 11,037 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in Applied Optoelectronics during the second quarter valued at $109,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Hung-Lun (Fred) Chang sold 20,323 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.35, for a total transaction of $616,803.05. Following the completion of the sale, the insider now directly owns 195,572 shares in the company, valued at approximately $5,935,610.20. This trade represents a 9.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the sale, the insider now owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. The trade was a 7.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,817 shares of company stock worth $1,687,174. Insiders own 5.40% of the company’s stock.

Analyst Upgrades and Downgrades

AAOI has been the topic of several recent analyst reports. B. Riley decreased their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Rosenblatt Securities increased their target price on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a research report on Friday, November 8th. Raymond James increased their target price on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. B. Riley Financial reiterated a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Finally, Northland Securities increased their target price on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Applied Optoelectronics presently has an average rating of “Hold” and an average target price of $18.70.

Applied Optoelectronics Price Performance

Applied Optoelectronics stock opened at $37.99 on Friday. Applied Optoelectronics, Inc. has a 12-month low of $6.70 and a 12-month high of $38.94. The stock has a market cap of $1.71 billion, a P/E ratio of -18.44 and a beta of 1.96. The company has a 50-day moving average price of $19.08 and a 200 day moving average price of $13.16. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Applied Optoelectronics 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.