Hussman Strategic Advisors Inc. Sells 10,500 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Hussman Strategic Advisors Inc. trimmed its holdings in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 5.6% in the 2nd quarter, Holdings Channel reports. The fund owned 178,500 shares of the semiconductor company’s stock after selling 10,500 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Applied Optoelectronics were worth $1,480,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AAOI. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics in the first quarter worth $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares during the last quarter. Truvestments Capital LLC bought a new position in Applied Optoelectronics in the 1st quarter worth about $161,000. Summit Securities Group LLC purchased a new stake in Applied Optoelectronics during the 2nd quarter valued at about $109,000. Finally, Alpha DNA Investment Management LLC bought a new stake in Applied Optoelectronics during the 4th quarter valued at about $409,000. 61.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research report on Friday, August 9th. B. Riley Financial restated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 22nd. Finally, B. Riley decreased their price objective 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. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Applied Optoelectronics presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Applied Optoelectronics Stock Performance

Shares of AAOI traded up $1.05 during trading hours on Friday, hitting $11.35. The stock had a trading volume of 4,196,325 shares, compared to its average volume of 2,116,882. Applied Optoelectronics, Inc. has a 12 month low of $6.66 and a 12 month high of $24.75. The stock has a fifty day moving average price of $8.82 and a 200 day moving average price of $11.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The firm has a market capitalization of $464.22 million, a PE ratio of -6.24 and a beta of 1.97.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.01. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The firm had revenue of $43.27 million during the quarter, compared to analyst estimates of $44.14 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts anticipate that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

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.