Starfire Investment Advisers Inc. Buys New Position in Applied Optoelectronics, Inc. (AAOI)

Starfire Investment Advisers Inc. bought a new position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,500 shares of the semiconductor company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAOI. Whale Rock Capital Management LLC boosted its position 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 worth $64,873,000 after buying an additional 495,915 shares during the period. Vanguard Group Inc. boosted its position 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 worth $35,737,000 after buying an additional 45,353 shares during the period. Morgan Stanley boosted its position 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 worth $29,257,000 after buying an additional 370,427 shares during the period. Renaissance Technologies LLC boosted 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 worth $28,861,000 after buying an additional 339,900 shares during the period. Finally, State Street Corp boosted its position 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 worth $18,655,000 after buying an additional 70,219 shares during the period. 77.36% of the stock is owned by institutional investors.

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) opened at 65.84 on Friday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 15.64 and a beta of 2.98. The stock has a 50 day moving average of $77.58 and a 200 day moving average of $57.87. Applied Optoelectronics, Inc. has a 52-week low of $13.06 and a 52-week high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.28. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The company had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $117.34 million. During the same quarter in the prior year, the company posted $0.16 EPS. The business’s revenue was up 112.3% on a year-over-year basis. On average, analysts predict that Applied Optoelectronics, Inc. will post $5.38 EPS for the current fiscal year.

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A number of research analysts have issued reports on AAOI shares. Cowen and Company increased their target price on shares of Applied Optoelectronics from $75.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, May 5th. BidaskClub upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Vetr lowered shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $84.73 price target on the stock. in a research report on Friday, July 14th. ValuEngine upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. 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 on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a buy rating and six have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $76.98.

In other news, Director William H. Yeh sold 30,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $72.12, for a total value of $2,163,600.00. Following the completion of the transaction, the director now owns 71,167 shares in the company, valued at approximately $5,132,564.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stefan J. Murry sold 3,168 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $63.51, for a total transaction of $201,199.68. Following the completion of the transaction, the chief financial officer now owns 58,526 shares of the company’s stock, valued at approximately $3,716,986.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,758 shares of company stock valued at $6,295,754. Corporate insiders own 8.19% of the company’s stock.

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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Institutional Ownership by Quarter for Applied Optoelectronics (NASDAQ:AAOI)

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