Pinpoint Asset Management Ltd Invests $493,000 in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Pinpoint Asset Management Ltd bought a new stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 33,571 shares of the semiconductor company’s stock, valued at approximately $493,000. Pinpoint Asset Management Ltd owned about 0.07% of Applied Optoelectronics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 6,787 shares during the last quarter. FMR LLC lifted its holdings in Applied Optoelectronics by 3,290.6% during the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Applied Optoelectronics during the second quarter worth $89,000. Summit Securities Group LLC acquired a new position in shares of Applied Optoelectronics in the second quarter valued at $109,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Applied Optoelectronics in the second quarter valued at about $118,000. Institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Stock Performance

NASDAQ:AAOI opened at $41.74 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. Applied Optoelectronics, Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $44.31. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -20.26 and a beta of 2.37. The stock has a fifty day moving average price of $22.55 and a 200-day moving average price of $14.55.

Analyst Ratings Changes

A number of research analysts recently commented on AAOI shares. B. Riley Financial reiterated a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. B. Riley lowered their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Raymond James boosted their price target on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Northland Securities increased their price objective on Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities boosted 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.70.

Insider Buying and Selling

In other news, CFO Stefan J. Murry sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $31.56, for a total transaction of $157,800.00. Following the completion of the transaction, the chief financial officer now owns 216,129 shares of the company’s stock, valued at approximately $6,821,031.24. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total value of $616,803.05. Following the sale, the insider now owns 195,572 shares of the company’s stock, valued at approximately $5,935,610.20. This represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,769 shares of company stock valued at $2,813,037 over the last quarter. 5.40% of the stock is owned by company insiders.

Applied Optoelectronics Company 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.