12,000 Shares of Applied Optoelectronics, Inc. $AAOI Acquired by ACT Capital Partners L.P.

ACT Capital Partners L.P. bought a new stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,000 shares of the semiconductor company’s stock, valued at approximately $1,191,000. Applied Optoelectronics accounts for about 0.8% of ACT Capital Partners L.P.’s portfolio, making the stock its 26th largest holding.

Several other hedge funds have also made changes to their positions in the stock. William Blair Investment Management LLC grew its stake in Applied Optoelectronics by 12.4% during the 3rd quarter. William Blair Investment Management LLC now owns 566,908 shares of the semiconductor company’s stock worth $56,271,000 after buying an additional 62,706 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of Applied Optoelectronics during the third quarter valued at $476,000. Jacobi Capital Management LLC acquired a new position in shares of Applied Optoelectronics during the third quarter valued at $33,000. Knights of Columbus Asset Advisors LLC grew its position in shares of Applied Optoelectronics by 1.1% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 20,427 shares of the semiconductor company’s stock worth $2,028,000 after acquiring an additional 221 shares during the last quarter. Finally, Matthews International Capital Management LLC bought a new stake in Applied Optoelectronics in the 3rd quarter valued at about $8,927,000. Institutional investors own 61.70% of the company’s stock.

Wall Street Analysts Forecast Growth

AAOI has been the topic of a number of recent analyst reports. Rosenblatt Securities cut their price target on Applied Optoelectronics from $220.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Weiss Ratings upgraded Applied Optoelectronics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, October 21st. Northland Securities raised Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Monday, November 2nd. B. Riley Financial cut their price objective on shares of Applied Optoelectronics from $92.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, November 6th. Finally, Needham & Company LLC decreased their target price on shares of Applied Optoelectronics from $170.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, November 6th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $111.60.

Applied Optoelectronics Price Performance

Shares of AAOI traded down $2.96 during mid-day trading on Friday, hitting $49.89. The company’s stock had a trading volume of 10,788,791 shares, compared to its average volume of 13,754,526. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.34 and a quick ratio of 1.77. The firm has a 50-day moving average price of $87.73 and a 200 day moving average price of $113.62. Applied Optoelectronics, Inc. has a fifty-two week low of $18.50 and a fifty-two week high of $233.67. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -116.02 and a beta of 4.04.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Thursday, November 5th. The semiconductor company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. Applied Optoelectronics had a negative net margin of 4.39% and a negative return on equity of 0.17%. The business had revenue of $269.88 million during the quarter, compared to analyst estimates of $268.11 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 127.5% on a year-over-year basis. On average, research analysts predict that Applied Optoelectronics, Inc. will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, insider Shu-Hua Yeh sold 6,000 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $120.03, for a total transaction of $720,180.00. Following the completion of the sale, the insider directly owned 371,498 shares of the company’s stock, valued at approximately $44,590,904.94. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stefan Murry sold 4,000 shares of the firm’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $102.87, for a total transaction of $411,480.00. Following the completion of the transaction, the chief financial officer owned 363,168 shares of the company’s stock, valued at approximately $37,359,092.16. The trade was a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 52,172 shares of company stock valued at $5,985,036. 3.80% of the stock is currently owned by corporate insiders.

Applied Optoelectronics Profile

Applied Optoelectronics, Inc. designs and manufactures fiber-optic networking products used to transmit data over cable, telecommunications and data center networks. Its offerings include optical transceivers and other optical components and equipment. The company serves customers in markets including broadband access, telecommunications and data centers. Founded in 1997 and headquartered in Sugar Land, Texas, Applied Optoelectronics has operations in the United States and Asia and serves customers internationally.