Applied Optoelectronics, Inc. (NASDAQ:AAOI) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC lowered its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 75.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 841,974 shares of the semiconductor company’s stock after selling 2,575,435 shares during the quarter. Driehaus Capital Management LLC owned about 2.16% of Applied Optoelectronics worth $6,980,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. CANADA LIFE ASSURANCE Co bought a new position in Applied Optoelectronics during the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 6,787 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Applied Optoelectronics during the 2nd quarter valued at $89,000. Truvestments Capital LLC acquired a new position in shares of Applied Optoelectronics during the 1st quarter valued at $161,000. Finally, Summit Securities Group LLC acquired a new position in shares of Applied Optoelectronics during the 2nd quarter valued at $109,000. Institutional investors and hedge funds own 61.72% of the company’s stock.

Insider Transactions at Applied Optoelectronics

In other news, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total value of $150,200.00. Following the transaction, the insider now directly owns 132,921 shares in the company, valued at $1,996,473.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is currently owned by corporate insiders.

Applied Optoelectronics Price Performance

AAOI opened at $13.73 on Monday. Applied Optoelectronics, Inc. has a 1 year low of $6.66 and a 1 year high of $24.75. The stock has a fifty day moving average price of $10.62 and a 200 day moving average price of $10.92. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a market cap of $534.21 million, a price-to-earnings ratio of -7.54 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.01. The company had revenue of $43.27 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned ($0.31) earnings per share. Analysts forecast that Applied Optoelectronics, Inc. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

AAOI has been the topic of a number of recent research reports. B. Riley Financial restated a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a report 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 report on Tuesday, September 3rd. Rosenblatt Securities raised their target price on Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. B. Riley decreased their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com raised 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 given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.75.

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.