Information from the Securities and Exchange Commission (SEC) reveals that Essex Investment Management Co.LLC has reduced the number of shares of Alliance Fiber Optic Products Inc.(AFOP) by 65 percent. Essex owned 24,690 shares of the AFOP’s stock after selling 47,294 shares during the period. Data from SEC shows that Essex owned about 0.14% of AFOP Products worth $374,000,
Several other hedge funds have also added to or reduced their stakes in AFOP. Simplex Trading acquired a new stake in Alliance Fiber Optic Products during the fourth quarter worth $0. Dalton Greiner Hartman Maher & Company increased its stake in Alliance Fiber Optic Products by 10.7% in the fourth quarter. Dalton Greiner Hartman Maher & Company now owns 72,408 shares of the company’s stock worth $1,098,000 after buying an additional 7,013 shares in the last quarter. Finally, Thomson Horstmann & Bryant increased its stake in Alliance Fiber Optic Products by 32.4% in the fourth quarter. Thomson Horstmann & Bryant now owns 647,246 shares of the company’s stock worth $9,812,000 after buying an additional 158,353 shares in the last quarter.
Shares of Alliance Fiber Optic Products Inc traded down 0.75% during trading on Friday, reaching $14.54. 152,974 shares of the company were exchanged. The firm’s 50 day moving average is $14.38 and its 200-day moving average is $16.50. Alliance Fiber Optic Products Inc has a 1-year low of $12.92 and a 1-year high of $22.35. The firm has a market capitalization of $252.76 million and a P/E ratio of 19.52.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Alliance Fiber Optic Products from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 29th. B. Riley reaffirmed a “neutral” rating and issued a $14.25 target price on shares of Alliance Fiber Optic Products in a research report on Tuesday, November 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price (down from $25.00) on shares of Alliance Fiber Optic Products in a research report on Thursday, October 29th.
Alliance Fiber Optic Products, Inc designs, manufactures, and markets a range of fiber optic components and integrated modules incorporating these components. The Company offers its products to communications equipment manufacturers and service providers. It offers a range of products, including interconnecting devices that connect optical fibers and components, couplers and splitters that divide and combine optical power, and dense wavelength division multiplexing devices that separate and combines multiple specific wavelengths.