Meeder Asset Management Inc. Invests $38,000 in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Meeder Asset Management Inc. acquired a new stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,040 shares of the semiconductor company’s stock, valued at approximately $38,000.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Applied Optoelectronics by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock valued at $1,557,000 after purchasing an additional 3,081 shares in the last quarter. Citigroup Inc. boosted its stake in Applied Optoelectronics by 4.9% during the third quarter. Citigroup Inc. now owns 345,612 shares of the semiconductor company’s stock worth $4,946,000 after buying an additional 16,017 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Applied Optoelectronics by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company’s stock worth $210,000 after buying an additional 483 shares during the last quarter. FMR LLC grew its holdings in Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 5,956 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Applied Optoelectronics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 21,565 shares of the semiconductor company’s stock worth $309,000 after acquiring an additional 12,151 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

Applied Optoelectronics Stock Down 1.7 %

Shares of NASDAQ AAOI opened at $15.09 on Wednesday. Applied Optoelectronics, Inc. has a 52-week low of $6.70 and a 52-week high of $44.50. The business’s 50 day moving average is $23.31 and its two-hundred day moving average is $25.39. The firm has a market cap of $752.25 million, a price-to-earnings ratio of -7.33 and a beta of 2.36. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $100.27 million for the quarter, compared to analyst estimates of $99.92 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. Research analysts predict that Applied Optoelectronics, Inc. will post -1.18 EPS for the current year.

Insider Activity

In other Applied Optoelectronics news, Director Richard B. Black sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the transaction, the director now owns 157,813 shares of the company’s stock, valued at $4,576,577. This trade represents a 5.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stefan J. Murry sold 4,000 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the sale, the chief financial officer now directly owns 212,129 shares in the company, valued at $6,728,731.88. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,298 shares of company stock valued at $543,821. 4.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AAOI has been the subject of a number of analyst reports. B. Riley raised shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a report on Friday, March 7th. Northland Securities reiterated an “outperform” rating and issued a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Rosenblatt Securities restated a “buy” rating and set a $36.00 price target on shares of Applied Optoelectronics in a report on Friday, March 14th. Raymond James upped their price objective on Applied Optoelectronics to $31.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, StockNews.com raised Applied Optoelectronics to a “sell” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.80.

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.