Truvestments Capital LLC Grows Stock Holdings in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Truvestments Capital LLC raised its position in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 7.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,995 shares of the semiconductor company’s stock after purchasing an additional 1,133 shares during the quarter. Truvestments Capital LLC’s holdings in Applied Optoelectronics were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Pingora Partners LLC purchased a new position in shares of Applied Optoelectronics during the third quarter valued at about $82,000. FMR LLC increased its position in shares of Applied Optoelectronics by 3,290.6% during the third 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 during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Applied Optoelectronics during the third quarter valued at about $186,000. The Manufacturers Life Insurance Company increased its position in shares of 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 valued at $210,000 after buying an additional 483 shares during the period. Finally, Chung Wu Investment Group LLC purchased a new position in shares of Applied Optoelectronics during the fourth quarter valued at about $262,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Raymond James boosted their price target on shares of Applied Optoelectronics to $31.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $44.00 price target on shares of Applied Optoelectronics in a research report on Monday, February 24th. Northland Securities reiterated an “outperform” rating and set a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. B. Riley upgraded shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a report on Friday, March 7th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.40.

Insider Transactions at Applied Optoelectronics

In other news, Director Richard B. Black sold 10,000 shares of the company’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 transaction, the director now owns 157,813 shares in the company, valued at approximately $4,576,577. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stefan J. Murry sold 2,298 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total transaction of $80,820.66. Following the transaction, the chief financial officer now owns 209,831 shares in the company, valued at approximately $7,379,756.27. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,298 shares of company stock worth $850,401. Corporate insiders own 5.40% of the company’s stock.

Applied Optoelectronics Price Performance

Shares of AAOI opened at $17.30 on Thursday. The stock has a market cap of $858.96 million, a PE ratio of -8.40 and a beta of 2.36. 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 $44.50. The firm’s 50-day simple moving average is $26.86 and its two-hundred day simple moving average is $24.56.

Applied Optoelectronics (NASDAQ:AAOI) last issued 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 during the quarter, compared to the consensus estimate of $99.92 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. Analysts anticipate that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal year.

About Applied Optoelectronics

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.