Bourne Lent Asset Management Inc. increased its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 21.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Whale Rock Capital Management LLC increased its stake in shares of Applied Optoelectronics by 75.2% in the first quarter. Whale Rock Capital Management LLC now owns 1,155,356 shares of the semiconductor company’s stock valued at $64,873,000 after buying an additional 495,915 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Applied Optoelectronics by 7.7% in the first quarter. Vanguard Group Inc. now owns 636,472 shares of the semiconductor company’s stock valued at $35,737,000 after buying an additional 45,353 shares during the last quarter. Morgan Stanley increased its stake in shares of 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. 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. Finally, State Street Corp increased its stake in shares of Applied Optoelectronics by 26.8% in the first quarter. State Street Corp now owns 332,285 shares of the semiconductor company’s stock valued at $18,655,000 after buying an additional 70,219 shares during the last quarter. 77.36% of the stock is owned by institutional investors and hedge funds.
Shares of Applied Optoelectronics, Inc. (NASDAQ AAOI) opened at 67.47 on Thursday. Applied Optoelectronics, Inc. has a 12-month low of $13.06 and a 12-month high of $103.41. The firm’s 50-day moving average is $77.50 and its 200-day moving average is $57.58. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 23.77 and a beta of 2.98. Applied Optoelectronics also saw some unusual options trading on Monday. Stock investors acquired 640 put options on the company. This is an increase of approximately 106% compared to the typical daily volume of 310 put options.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The company had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. During the same quarter last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 112.3% compared to the same quarter last year. On average, equities analysts predict that Applied Optoelectronics, Inc. will post $5.30 EPS for the current year.
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AAOI has been the subject of several analyst reports. Cowen and Company lifted their price objective on shares of Applied Optoelectronics from $66.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 18th. Roth Capital reiterated a “buy” rating and issued a $70.00 price objective (up previously from $60.00) on shares of Applied Optoelectronics in a research note on Friday, May 5th. Vetr cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $68.41 price objective for the company. in a research note on Tuesday, May 9th. ValuEngine upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Thursday, May 18th. Finally, Needham & Company LLC began coverage on shares of Applied Optoelectronics in a research report on Monday, May 22nd. They issued a “strong-buy” rating and a $85.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have issued a buy rating and six have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $76.98.
In other Applied Optoelectronics news, General Counsel David C. Kuo sold 507 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $70.00, for a total value of $35,490.00. Following the completion of the sale, the general counsel now owns 26,307 shares of the company’s stock, valued at $1,841,490. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Chih-Hsiang (Thompson) Lin sold 8,586 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $66.00, for a total value of $566,676.00. Following the completion of the sale, the insider now directly owns 320,455 shares of the company’s stock, valued at approximately $21,150,030. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,844 shares of company stock worth $8,324,930. 8.19% of the stock is owned by corporate 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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