JAT Capital Mgmt LP Takes Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

JAT Capital Mgmt LP acquired a new position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 452,155 shares of the semiconductor company’s stock, valued at approximately $6,470,000. Applied Optoelectronics accounts for 1.0% of JAT Capital Mgmt LP’s investment portfolio, making the stock its 21st biggest holding. JAT Capital Mgmt LP owned about 1.00% of Applied Optoelectronics at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Westfield Capital Management Co. LP bought a new stake in shares of Applied Optoelectronics during the 3rd quarter valued at about $19,019,000. Shellback Capital LP acquired a new position in Applied Optoelectronics during the 2nd quarter valued at about $8,617,000. Royce & Associates LP increased its holdings in Applied Optoelectronics by 47.7% during the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock worth $22,847,000 after purchasing an additional 515,489 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Applied Optoelectronics by 29.2% during the first quarter. Vanguard Group Inc. now owns 1,954,498 shares of the semiconductor company’s stock valued at $27,089,000 after buying an additional 442,277 shares during the last quarter. Finally, Caxton Associates LP grew its stake in shares of Applied Optoelectronics by 550.5% during the 2nd quarter. Caxton Associates LP now owns 411,054 shares of the semiconductor company’s stock worth $3,408,000 after acquiring an additional 347,867 shares during the period. Institutional investors own 61.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AAOI. Raymond James boosted their price objective on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley cut their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, October 25th. Northland Securities raised their price objective on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, B. Riley Financial reiterated a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.70.

Applied Optoelectronics Stock Up 13.2 %

Shares of NASDAQ:AAOI opened at $41.22 on Friday. The stock’s 50-day moving average is $20.95 and its 200 day moving average is $13.87. The company has a market cap of $1.86 billion, a PE ratio of -20.01 and a beta of 1.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. Applied Optoelectronics, Inc. has a 1 year low of $6.70 and a 1 year high of $43.05.

Insider Activity

In other news, insider David C. Kuo sold 10,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the sale, the insider now directly owns 118,122 shares of the company’s stock, valued at approximately $3,181,025.46. This represents a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard B. Black sold 8,162 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $37.18, for a total transaction of $303,463.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,979 shares of company stock valued at $1,990,637. Company insiders own 5.40% 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.