Crossmark Global Holdings Inc. lifted its stake in Applied Optoelectronics Inc (NASDAQ:AAOI) by 289.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,490 shares of the semiconductor company’s stock after purchasing an additional 10,770 shares during the period. Crossmark Global Holdings Inc.’s holdings in Applied Optoelectronics were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Applied Optoelectronics by 49.8% in the second quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock worth $58,917,000 after acquiring an additional 317,033 shares during the period. State of Tennessee Treasury Department boosted its holdings in shares of Applied Optoelectronics by 113.9% in the third quarter. State of Tennessee Treasury Department now owns 815,552 shares of the semiconductor company’s stock worth $52,742,000 after buying an additional 434,207 shares during the last quarter. State Street Corp boosted its holdings in shares of Applied Optoelectronics by 33.8% in the second quarter. State Street Corp now owns 444,624 shares of the semiconductor company’s stock worth $27,474,000 after buying an additional 112,339 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Applied Optoelectronics by 25.2% in the second quarter. Dimensional Fund Advisors LP now owns 325,951 shares of the semiconductor company’s stock worth $20,141,000 after buying an additional 65,678 shares during the last quarter. Finally, TT International purchased a new position in shares of Applied Optoelectronics in the third quarter worth approximately $19,089,000. Hedge funds and other institutional investors own 71.70% of the company’s stock.
Applied Optoelectronics Inc (AAOI) opened at $33.33 on Wednesday. The company has a current ratio of 2.99, a quick ratio of 2.02 and a debt-to-equity ratio of 0.12. Applied Optoelectronics Inc has a 1-year low of $28.56 and a 1-year high of $103.41. The firm has a market cap of $620.04, a P/E ratio of 7.60, a price-to-earnings-growth ratio of 0.65 and a beta of 2.51.
A number of equities analysts recently issued reports on AAOI shares. Cowen reissued a “buy” rating and issued a $60.00 price objective (down previously from $74.00) on shares of Applied Optoelectronics in a report on Thursday, December 7th. Zacks Investment Research downgraded shares of Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 2nd. Needham & Company LLC dropped their price objective on shares of Applied Optoelectronics from $75.00 to $50.00 and set a “strong-buy” rating on the stock in a report on Wednesday, November 8th. Loop Capital started coverage on shares of Applied Optoelectronics in a report on Monday, January 29th. They issued a “hold” rating and a $35.00 price objective on the stock. Finally, BidaskClub downgraded shares of Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a report on Saturday, December 9th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $51.53.
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Applied Optoelectronics Profile
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.
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