Applied Optoelectronics, Inc. (NASDAQ:AAOI) was the target of unusually large options trading activity on Friday. Investors bought 18,051 call options on the stock. This represents an increase of approximately 250% compared to the average daily volume of 5,155 call options.

In related news, Director Richard B. Black sold 1,000 shares of the 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 completion of the transaction, the director now owns 40,478 shares in the company, valued at $2,416,536.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hung-Lun (Fred) Chang sold 10,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $59.50, for a total transaction of $595,000.00. Following the transaction, the insider now owns 46,054 shares of the company’s stock, valued at approximately $2,740,213. The disclosure for this sale can be found here. Insiders have sold 138,742 shares of company stock valued at $9,725,420 in the last 90 days. 8.19% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. 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 period. 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 period. 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 period. 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 period. 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 period. 77.36% of the stock is currently owned by institutional investors.

Several research analysts recently commented on the stock. Northland Securities cut shares of Applied Optoelectronics from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $47.00 to $43.00 in a report on Friday. ValuEngine cut shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. DA Davidson set a $103.00 target price on shares of Applied Optoelectronics and gave the stock a “buy” rating in a report on Saturday. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $100.00 price target (up from $94.00) on shares of Applied Optoelectronics in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and five have given a strong buy rating to the stock. Applied Optoelectronics currently has a consensus rating of “Buy” and an average price target of $77.17.

Shares of Applied Optoelectronics (AAOI) opened at 64.60 on Monday. The firm’s 50-day moving average is $74.92 and its 200 day moving average is $55.92. Applied Optoelectronics has a 52-week low of $11.67 and a 52-week high of $103.41. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 22.76 and a beta of 2.98.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.28. The company had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm’s quarterly revenue was up 112.3% on a year-over-year basis. During the same quarter last year, the company earned $0.16 EPS. On average, equities research analysts anticipate that Applied Optoelectronics will post $5.30 earnings per share for the current year.

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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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