JAT Capital Mgmt LP Makes New Investment in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

JAT Capital Mgmt LP acquired a new position in Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 452,155 shares of the semiconductor company’s stock, valued at approximately $6,470,000. Applied Optoelectronics comprises 1.0% of JAT Capital Mgmt LP’s holdings, making the stock its 21st biggest holding.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in 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 acquiring an additional 483 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Applied Optoelectronics by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company’s stock valued at $1,557,000 after buying an additional 3,081 shares during the last quarter. Truvestments Capital LLC grew its holdings in Applied Optoelectronics by 24.3% during the 3rd quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock valued at $227,000 after buying an additional 3,097 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics in the 1st quarter worth approximately $46,000. Finally, FMR LLC raised its holdings in shares of Applied Optoelectronics by 3,290.6% during the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 5,956 shares in the last quarter. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Trading Up 13.2 %

AAOI opened at $41.22 on Friday. Applied Optoelectronics, Inc. has a 52 week low of $6.70 and a 52 week high of $43.05. The company has a market capitalization of $1.86 billion, a P/E ratio of -20.01 and a beta of 1.96. The stock’s fifty day moving average is $20.95 and its two-hundred day moving average is $13.87. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36.

Insider Activity at Applied Optoelectronics

In related news, CFO Stefan J. Murry sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $31.56, for a total value of $157,800.00. Following the completion of the transaction, the chief financial officer now owns 216,129 shares in the company, valued at $6,821,031.24. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were 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 in the company, valued at approximately $5,935,610.20. The trade was a 9.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,979 shares of company stock worth $1,990,637 over the last three months. 5.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. B. Riley reduced their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Rosenblatt Securities increased their price target on Applied Optoelectronics from $20.00 to $27.50 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James lifted their price objective on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Northland Securities raised their target price on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.70.

Applied Optoelectronics 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.