Applied Optoelectronics, Inc. (NASDAQ:AAOI) was the target of some unusual options trading activity on Friday. Traders bought 9,719 call options on the stock. This represents an increase of 143% compared to the typical daily volume of 3,995 call options.

Applied Optoelectronics (AAOI) opened at 90.18 on Wednesday. Applied Optoelectronics has a 52-week low of $11.51 and a 52-week high of $91.46. The firm’s 50-day moving average is $67.80 and its 200-day moving average is $50.92. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 31.78 and a beta of 2.85.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. The company had revenue of $96.20 million during the quarter, compared to the consensus estimate of $96.20 million. During the same quarter last year, the firm posted ($0.04) EPS. The company’s quarterly revenue was up 90.9% on a year-over-year basis. Analysts forecast that Applied Optoelectronics will post $5.01 EPS for the current fiscal year.

In other news, Director Richard B. Black sold 1,000 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $59.70, for a total transaction of $59,700.00. Following the transaction, the director now directly owns 40,478 shares in the company, valued at approximately $2,416,536.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel David C. Kuo sold 3,787 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $60.00, for a total transaction of $227,220.00. Following the transaction, the general counsel now owns 27,460 shares in the company, valued at $1,647,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,048 shares of company stock worth $7,713,586. 8.19% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whale Rock Capital Management LLC increased 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. increased 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 increased 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 stake in 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 in the last quarter. Finally, State Street Corp boosted its stake in 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 in the last quarter. 78.42% of the stock is owned by institutional investors.

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 company an “outperform” rating in a research note on Tuesday, April 18th. BWS Financial initiated coverage on shares of Applied Optoelectronics in a research note on Friday, June 16th. They issued a “sell” rating and a $25.00 price objective for the company. Vetr lowered shares of Applied Optoelectronics from a “buy” rating to a “hold” rating and set a $76.95 price objective for the company. in a research note on Monday, June 5th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $85.00 price objective on shares of Applied Optoelectronics in a research note on Monday, June 26th. Finally, ValuEngine raised shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $78.97.

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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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