Royce & Associates LP Raises Stock Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Royce & Associates LP grew its holdings in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 47.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,596,545 shares of the semiconductor company’s stock after purchasing an additional 515,489 shares during the period. Royce & Associates LP’s holdings in Applied Optoelectronics were worth $22,847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Applied Optoelectronics during the first quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after buying an additional 6,787 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Applied Optoelectronics during the second quarter worth approximately $89,000. Truvestments Capital LLC purchased a new stake in shares of Applied Optoelectronics during the first quarter worth approximately $161,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Applied Optoelectronics during the third quarter worth approximately $186,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the completion of the sale, the insider now owns 118,122 shares of the company’s stock, valued at approximately $3,181,025.46. This trade represents a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.40% of the company’s stock.

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI opened at $26.80 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a fifty day moving average price of $17.16 and a 200 day moving average price of $12.38. Applied Optoelectronics, Inc. has a 1-year low of $6.70 and a 1-year high of $29.17. The company has a market cap of $1.21 billion, a PE ratio of -13.01 and a beta of 1.96.

Analyst Upgrades and Downgrades

Several brokerages have commented on AAOI. Northland Securities increased their price target on shares of 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 Financial reissued a “neutral” rating and issued a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. B. Riley decreased their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Raymond James increased their price objective on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.70.

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.