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

Driehaus Capital Management LLC lowered its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 66.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 510,594 shares of the semiconductor company’s stock after selling 1,011,454 shares during the quarter. Driehaus Capital Management LLC owned about 1.09% of Applied Optoelectronics worth $18,820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Applied Optoelectronics during the 4th quarter valued at approximately $27,645,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Applied Optoelectronics in the 4th quarter worth about $13,379,000. Assenagon Asset Management S.A. acquired a new position in shares of Applied Optoelectronics in the 4th quarter valued at about $12,731,000. Bank of America Corp DE boosted its holdings in shares of Applied Optoelectronics by 1,058.6% in the 4th quarter. Bank of America Corp DE now owns 339,550 shares of the semiconductor company’s stock valued at $12,516,000 after buying an additional 310,243 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Applied Optoelectronics by 1,288.6% during the 4th quarter. JPMorgan Chase & Co. now owns 293,906 shares of the semiconductor company’s stock valued at $10,833,000 after buying an additional 272,741 shares during the last quarter. Institutional investors and hedge funds own 61.72% of the company’s stock.

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI opened at $14.78 on Friday. The firm’s 50-day simple moving average is $14.90 and its 200 day simple moving average is $24.55. The stock has a market cap of $820.22 million, a P/E ratio of -7.17 and a beta of 2.55. 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 fifty-two week low of $6.70 and a fifty-two week high of $44.50.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $100.27 million for the quarter, compared to analyst estimates of $99.92 million. Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. Equities analysts expect that Applied Optoelectronics, Inc. will post -1.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AAOI. B. Riley raised shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 target price on the stock in a report on Friday, March 7th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research report on Wednesday, February 26th. Rosenblatt Securities dropped their target price on Applied Optoelectronics from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Raymond James restated an “outperform” rating and set a $20.00 price target on shares of Applied Optoelectronics in a research report on Thursday, April 24th. 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.40.

Insider Activity

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,000 shares of Applied Optoelectronics stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.06, for a total value of $46,120.00. Following the transaction, the chief financial officer now owns 196,581 shares in the company, valued at approximately $4,533,157.86. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.96% of the company’s stock.

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.