750,000 Shares in Applied Optoelectronics, Inc. (NASDAQ:AAOI) Acquired by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd bought a new stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) during the 4th quarter, Holdings Channel.com reports. The fund bought 750,000 shares of the semiconductor company’s stock, valued at approximately $27,645,000. Applied Optoelectronics comprises approximately 12.0% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 3rd largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pingora Partners LLC purchased a new position in shares of Applied Optoelectronics in the 3rd quarter worth approximately $82,000. FMR LLC boosted its stake in Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 5,956 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Applied Optoelectronics in the third quarter worth $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 worth $210,000 after purchasing an additional 483 shares in the last quarter. Finally, Truvestments Capital LLC increased its position in shares of Applied Optoelectronics by 24.3% during the third quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 3,097 shares in the last quarter. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

Applied Optoelectronics Trading Down 1.7 %

Shares of NASDAQ:AAOI opened at $27.04 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. Applied Optoelectronics, Inc. has a 52-week low of $6.70 and a 52-week high of $44.50. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -13.13 and a beta of 2.36. The business has a 50-day moving average price of $31.32 and a 200-day moving average price of $23.55.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AAOI. Raymond James raised their price objective on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. StockNews.com raised Applied Optoelectronics to a “sell” rating in a report on Friday, January 31st. Northland Securities restated an “outperform” rating and set a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. B. Riley lowered shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a research report on Tuesday, December 10th. Finally, Rosenblatt Securities boosted their target price on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.20.

Insider Buying and Selling

In related news, CFO Stefan J. Murry sold 4,000 shares of Applied Optoelectronics stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the completion of the transaction, the chief financial officer now owns 212,129 shares in the company, valued at $6,728,731.88. The trade was a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard B. Black sold 8,162 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $37.18, for a total value of $303,463.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,250 shares of company stock worth $1,976,264. 5.40% of the stock is 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.