Bourne Lent Asset Management Inc. Acquires 1,550 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Bourne Lent Asset Management Inc. raised its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 21.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,650 shares of the semiconductor company’s stock after buying an additional 1,550 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Applied Optoelectronics were worth $534,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. 361 Capital LLC acquired a new stake in Applied Optoelectronics during the first quarter valued at approximately $208,000. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Applied Optoelectronics during the first quarter worth about $213,000. Nationwide Fund Advisors increased its position in shares of Applied Optoelectronics by 3.1% in the first quarter. Nationwide Fund Advisors now owns 10,566 shares of the semiconductor company’s stock worth $593,000 after buying an additional 315 shares during the period. Telemus Capital LLC purchased a new position in shares of Applied Optoelectronics during the first quarter worth about $618,000. Finally, Sheets Smith Wealth Management purchased a new position in shares of Applied Optoelectronics during the first quarter worth about $536,000. Institutional investors and hedge funds own 78.42% of the company’s stock.

Applied Optoelectronics, Inc. (AAOI) traded up 1.30% during mid-day trading on Friday, hitting $89.95. 5,134,566 shares of the stock traded hands. The company has a 50-day moving average of $68.97 and a 200 day moving average of $51.50. The firm has a market capitalization of $1.71 billion, a P/E ratio of 31.69 and a beta of 2.84. Applied Optoelectronics, Inc. has a 1-year low of $11.60 and a 1-year high of $95.67.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Applied Optoelectronics had a return on equity of 23.75% and a net margin of 17.08%. The company had revenue of $96.20 million during the quarter, compared to analyst estimates of $96.20 million. During the same quarter last year, the firm posted ($0.04) earnings per share. The firm’s revenue was up 90.9% on a year-over-year basis. On average, equities research analysts anticipate that Applied Optoelectronics, Inc. will post $5.01 EPS for the current year.

A number of brokerages have recently issued reports on AAOI. BidaskClub upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. BWS Financial restated a “sell” rating and issued a $25.00 price target on shares of Applied Optoelectronics in a research report on Saturday. Roth Capital boosted their price target on shares of Applied Optoelectronics from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. ValuEngine downgraded shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, DA Davidson boosted their price target on shares of Applied Optoelectronics from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. Applied Optoelectronics currently has an average rating of “Buy” and a consensus price target of $78.97.

In other Applied Optoelectronics news, Director Chewei Lin sold 22,500 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $65.00, for a total transaction of $1,462,500.00. Following the completion of the transaction, the director now owns 74,017 shares of the company’s stock, valued at $4,811,105. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shu-Hua (Joshua) Yeh sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $92.51, for a total value of $1,850,200.00. Following the transaction, the insider now directly owns 89,742 shares of the company’s stock, valued at approximately $8,302,032.42. The disclosure for this sale can be found here. Insiders sold 137,048 shares of company stock valued at $9,563,786 in the last ninety days. 8.19% of the stock is currently owned by insiders.

About Applied Optoelectronics

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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