Applied Optoelectronics, Inc. (NASDAQ:AAOI) General Counsel David C. Kuo sold 1,116 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $94.87, for a total transaction of $105,874.92. Following the completion of the transaction, the general counsel now owns 25,041 shares of the company’s stock, valued at $2,375,639.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Applied Optoelectronics, Inc. (AAOI) opened at 95.63 on Tuesday. Applied Optoelectronics, Inc. has a 12-month low of $11.60 and a 12-month high of $97.75. The company has a 50-day moving average of $70.14 and a 200 day moving average of $52.72. The firm has a market capitalization of $1.82 billion, a PE ratio of 33.70 and a beta of 2.85. Applied Optoelectronics also was the target of unusually large options trading activity on Monday. Investors purchased 640 put options on the stock. This represents an increase of approximately 106% compared to the typical daily volume of 310 put options.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.09. The business had revenue of $96.20 million for the quarter, compared to the consensus estimate of $96.20 million. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. Applied Optoelectronics’s quarterly revenue was up 90.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) earnings per share. On average, analysts predict that Applied Optoelectronics, Inc. will post $5.01 EPS for the current year.
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Several brokerages have recently weighed in on AAOI. Needham & Company LLC upped their target price on shares of Applied Optoelectronics from $100.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Monday. Vertical Research restated a “sell” rating on shares of Applied Optoelectronics in a research note on Thursday, March 30th. BidaskClub upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Vetr downgraded shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $84.73 target price for the company. in a research note on Friday, July 14th. Finally, Roth Capital upped their target price on shares of Applied Optoelectronics from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. Applied Optoelectronics presently has a consensus rating of “Buy” and a consensus price target of $80.64.
Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Applied Optoelectronics by 195.2% in the first quarter. Renaissance Technologies LLC now owns 514,000 shares of the semiconductor company’s stock valued at $28,861,000 after buying an additional 339,900 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Applied Optoelectronics during the fourth quarter valued at about $264,000. Ameriprise Financial Inc. increased its stake in shares of Applied Optoelectronics by 21.8% in the first quarter. Ameriprise Financial Inc. now owns 115,735 shares of the semiconductor company’s stock valued at $6,498,000 after buying an additional 20,695 shares during the last quarter. Bourne Lent Asset Management Inc. increased its stake in shares of Applied Optoelectronics by 21.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 8,650 shares of the semiconductor company’s stock valued at $534,000 after buying an additional 1,550 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Applied Optoelectronics by 5.9% in the fourth quarter. State Street Corp now owns 262,066 shares of the semiconductor company’s stock valued at $6,143,000 after buying an additional 14,484 shares during the last quarter. Institutional investors and hedge funds own 78.68% of the company’s stock.
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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