Point72 Hong Kong Ltd Invests $89,000 in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Point72 Hong Kong Ltd purchased a new position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,731 shares of the semiconductor company’s stock, valued at approximately $89,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. purchased a new position in shares of Applied Optoelectronics in the 4th quarter valued at approximately $1,501,000. Goldman Sachs Group Inc. lifted its holdings in shares of Applied Optoelectronics by 9,687.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 853,948 shares of the semiconductor company’s stock worth $16,498,000 after purchasing an additional 845,223 shares during the period. Vanguard Group Inc. grew its position in Applied Optoelectronics by 29.2% in the 1st quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock valued at $27,089,000 after buying an additional 442,277 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Applied Optoelectronics in the 2nd quarter valued at $956,000. Finally, Swiss National Bank purchased a new position in Applied Optoelectronics during the 1st quarter worth $1,123,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Applied Optoelectronics Stock Performance

NASDAQ AAOI opened at $13.74 on Friday. The business has a 50 day moving average price of $10.62 and a 200 day moving average price of $10.97. The company has a market capitalization of $534.40 million, a P/E ratio of -7.55 and a beta of 1.96. Applied Optoelectronics, Inc. has a 1-year low of $6.66 and a 1-year high of $24.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. The business had revenue of $43.27 million during the quarter, compared to the consensus estimate of $44.14 million. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.31) EPS. Sell-side analysts expect that Applied Optoelectronics, Inc. will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AAOI shares. B. Riley Financial reiterated a “neutral” rating and set a $9.00 price target on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Raymond James raised Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research note on Tuesday, September 3rd. B. Riley decreased their price target 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. Rosenblatt Securities increased their price objective on Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.75.

Insiders Place Their Bets

In other news, insider David C. Kuo sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total value of $150,200.00. Following the sale, the insider now directly owns 132,921 shares in the company, valued at $1,996,473.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is currently owned by company insiders.

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.