Applied Optoelectronics, Inc. (NASDAQ:AAOI) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,022 shares of the semiconductor company’s stock after acquiring an additional 3,578 shares during the period. Nuveen Asset Management LLC owned about 0.23% of Applied Optoelectronics worth $3,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in Applied Optoelectronics in the fourth quarter valued at $38,000. Sterling Capital Management LLC lifted its position in Applied Optoelectronics by 858.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Applied Optoelectronics in the fourth quarter valued at $63,000. Summit Investment Advisors Inc. lifted its position in Applied Optoelectronics by 17.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 637 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in Applied Optoelectronics in the fourth quarter valued at $229,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

Applied Optoelectronics Trading Down 7.6%

Shares of Applied Optoelectronics stock opened at $15.65 on Friday. Applied Optoelectronics, Inc. has a 52-week low of $6.70 and a 52-week high of $44.50. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The company’s 50-day simple moving average is $14.64 and its 200-day simple moving average is $24.43. The firm has a market cap of $869.26 million, a price-to-earnings ratio of -7.60 and a beta of 2.55.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. The business had revenue of $99.86 million for the quarter, compared to analyst estimates of $99.37 million. During the same period in the previous year, the business posted ($0.31) earnings per share. The business’s revenue was up 145.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, insider Hung-Lun (Fred) Chang sold 23,837 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $19.06, for a total transaction of $454,333.22. Following the transaction, the insider now directly owns 278,842 shares in the company, valued at approximately $5,314,728.52. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stefan J. Murry sold 2,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.06, for a total transaction of $46,120.00. Following the transaction, the chief financial officer now owns 196,581 shares in the company, valued at $4,533,157.86. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,263 shares of company stock worth $740,590 over the last ninety days. 4.96% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AAOI. Raymond James reduced their price target on shares of Applied Optoelectronics from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. B. Riley raised shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a report on Friday, March 7th. Wall Street Zen raised shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Friday. Finally, Rosenblatt Securities upped their target price on shares of Applied Optoelectronics to $30.00 and gave the company a “buy” rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

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.