Yong Rong HK Asset Management Ltd Takes Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Yong Rong HK Asset Management Ltd bought a new position in Applied Optoelectronics, Inc. (NASDAQ:AAOI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 750,000 shares of the semiconductor company’s stock, valued at approximately $27,645,000. Applied Optoelectronics makes up 12.0% of Yong Rong HK Asset Management Ltd’s holdings, making the stock its 3rd largest position. Yong Rong HK Asset Management Ltd owned 1.60% of Applied Optoelectronics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAOI. The Manufacturers Life Insurance Company lifted its position 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 purchasing an additional 483 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Applied Optoelectronics by 2.9% during the 3rd 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 in the last quarter. Truvestments Capital LLC lifted its holdings in shares of Applied Optoelectronics by 24.3% in the 3rd quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock valued at $227,000 after acquiring an additional 3,097 shares during the last quarter. Rhumbline Advisers grew its position in Applied Optoelectronics by 9.1% in the fourth quarter. Rhumbline Advisers now owns 60,348 shares of the semiconductor company’s stock worth $2,224,000 after acquiring an additional 5,035 shares in the last quarter. Finally, Pingora Partners LLC bought a new stake in Applied Optoelectronics during the third quarter worth approximately $82,000. 61.72% of the stock is owned by institutional investors.

Applied Optoelectronics Stock Performance

AAOI stock opened at $27.04 on Friday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -13.13 and a beta of 2.36. Applied Optoelectronics, Inc. has a twelve month low of $6.70 and a twelve month 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 business’s fifty day simple moving average is $31.32 and its two-hundred day simple moving average is $23.55.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CFO Stefan J. Murry sold 2,298 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $35.17, for a total value of $80,820.66. Following the transaction, the chief financial officer now owns 209,831 shares of the company’s stock, valued at $7,379,756.27. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard B. Black sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the transaction, the director now owns 157,813 shares in the company, valued at $4,576,577. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,250 shares of company stock valued at $1,976,264 in the last 90 days. Company insiders own 5.40% of the company’s stock.

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.