Bourne Lent Asset Management Inc. boosted its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 21.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position 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 in the last quarter. Two Sigma Investments LP bought a new position in Applied Optoelectronics during the fourth quarter valued at $264,000. Ameriprise Financial Inc. boosted its position in 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. Morgan Stanley boosted its position in Applied Optoelectronics by 245.9% in the first quarter. Morgan Stanley now owns 521,051 shares of the semiconductor company’s stock valued at $29,257,000 after buying an additional 370,427 shares during the last quarter. Finally, State Street Corp boosted its position in 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. 78.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Applied Optoelectronics, Inc. (NASDAQ AAOI) traded down 5.72% during midday trading on Wednesday, hitting $93.91. 3,640,140 shares of the stock traded hands. The company’s 50 day moving average price is $74.92 and its 200-day moving average price is $55.92. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 33.09 and a beta of 2.96. Applied Optoelectronics, Inc. has a 12-month low of $11.67 and a 12-month high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $1.10 earnings per share (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 firm had revenue of $96.20 million for the quarter, compared to analyst estimates of $96.20 million. During the same period last year, the company earned ($0.04) EPS. The firm’s quarterly revenue was up 90.9% on a year-over-year basis. On average, equities research analysts expect that Applied Optoelectronics, Inc. will post $5.01 EPS for the current year.
Several research analysts have recently weighed in on AAOI shares. Cowen and Company boosted their price objective on shares of Applied Optoelectronics from $66.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 18th. Roth Capital reaffirmed a “buy” rating and set a $70.00 target price (up from $60.00) on shares of Applied Optoelectronics in a report on Friday, May 5th. Vetr cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $68.41 target price for the company. in a report on Tuesday, May 9th. ValuEngine upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research report on Thursday, May 18th. Finally, Needham & Company LLC started coverage on shares of Applied Optoelectronics in a research report on Monday, May 22nd. They issued a “strong-buy” rating and a $85.00 price target for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $80.64.
In other news, General Counsel David C. Kuo sold 578 shares of Applied Optoelectronics stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $96.47, for a total value of $55,759.66. Following the transaction, the general counsel now directly owns 23,753 shares of the company’s stock, valued at approximately $2,291,451.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chewei Lin sold 22,500 shares of Applied Optoelectronics stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $65.00, for a total value of $1,462,500.00. Following the completion of the transaction, the director now directly owns 74,017 shares in the company, valued at $4,811,105. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,742 shares of company stock worth $9,725,420. 8.19% of the stock is owned by corporate insiders.
Applied Optoelectronics Company 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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