White Pine Capital LLC Sells 50,357 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

White Pine Capital LLC decreased its stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 66.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,981 shares of the semiconductor company’s stock after selling 50,357 shares during the quarter. White Pine Capital LLC’s holdings in Applied Optoelectronics were worth $921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. XTX Topco Ltd bought a new position in Applied Optoelectronics in the third quarter worth approximately $1,109,000. Harbor Capital Advisors Inc. acquired a new position in shares of Applied Optoelectronics during the third quarter worth approximately $1,319,000. Westfield Capital Management Co. LP bought a new position in shares of Applied Optoelectronics in the 3rd quarter worth $19,019,000. Virtu Financial LLC acquired a new stake in Applied Optoelectronics in the 3rd quarter valued at $353,000. Finally, Affinity Wealth Management LLC bought a new stake in Applied Optoelectronics during the 4th quarter valued at $7,965,000. Institutional investors own 61.72% of the company’s stock.

Insider Transactions at Applied Optoelectronics

In related news, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the director now directly owns 157,813 shares in the company, valued at approximately $4,576,577. This trade represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total value of $616,803.05. Following the completion of the transaction, the insider now directly owns 195,572 shares in the company, valued at approximately $5,935,610.20. This represents a 9.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,067 shares of company stock worth $3,243,938 in the last 90 days. Insiders own 5.40% of the company’s stock.

Applied Optoelectronics Trading Up 8.0 %

Shares of AAOI stock opened at $27.04 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -13.13 and a beta of 2.36. Applied Optoelectronics, Inc. has a 52-week low of $6.70 and a 52-week high of $44.50. The company has a 50-day simple moving average of $32.34 and a two-hundred day simple moving average of $22.67.

Analysts Set New Price Targets

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

Applied Optoelectronics Company 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.