Applied Optoelectronics, Inc. (NASDAQ:AAOI) General Counsel David C. Kuo sold 1,116 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $94.87, for a total value of $105,874.92. Following the completion of the sale, the general counsel now directly owns 25,041 shares in the company, valued at $2,375,639.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Applied Optoelectronics, Inc. (NASDAQ AAOI) traded down 26.29% during midday trading on Friday, hitting $72.23. The company had a trading volume of 5,991,635 shares. The company’s 50 day moving average is $74.92 and its 200 day moving average is $55.92. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 25.45 and a beta of 2.98. Applied Optoelectronics, Inc. has a 12-month low of $11.67 and a 12-month high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.28. The firm had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $117.34 million. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. The company’s revenue for the quarter was up 112.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 earnings per share. On average, equities analysts anticipate that Applied Optoelectronics, Inc. will post $5.01 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in AAOI. Bourne Lent Asset Management Inc. bought a new stake in shares of Applied Optoelectronics during the first quarter valued at about $399,000. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Applied Optoelectronics during the first quarter valued at about $213,000. Nationwide Fund Advisors raised its stake 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 valued at $593,000 after buying an additional 315 shares during the period. Telemus Capital LLC bought a new stake in shares of Applied Optoelectronics during the first quarter valued at about $618,000. Finally, Sheets Smith Wealth Management acquired a new stake in Applied Optoelectronics during the first quarter valued at approximately $536,000. 78.02% of the stock is currently owned by hedge funds and other institutional investors.
AAOI has been the topic of a number of analyst reports. Cowen and Company raised their target price on Applied Optoelectronics from $66.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 18th. Needham & Company LLC assumed coverage on Applied Optoelectronics in a report on Monday, May 22nd. They issued a “strong-buy” rating and a $85.00 target price for the company. BidaskClub raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Monday. Vetr raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating and set a $72.75 price objective for the company in a research note on Wednesday, May 17th. Finally, Raymond James Financial, Inc. reaffirmed a “strong-buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $76.87.
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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