David C. Kuo Sells 889 Shares of Applied Optoelectronics, Inc. (AAOI) Stock
Applied Optoelectronics, Inc. (NASDAQ:AAOI) General Counsel David C. Kuo sold 889 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $70.00, for a total transaction of $62,230.00. Following the completion of the sale, the general counsel now owns 22,864 shares of the company’s stock, valued at $1,600,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Applied Optoelectronics, Inc. (NASDAQ:AAOI) traded up 2.17% during midday trading on Tuesday, reaching $71.20. 6,351,672 shares of the company’s stock were exchanged. Applied Optoelectronics, Inc. has a 52 week low of $13.06 and a 52 week high of $103.41. The firm has a 50-day moving average price of $76.90 and a 200 day moving average price of $56.55. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 25.09 and a beta of 2.98. Applied Optoelectronics also was the recipient of some unusual options trading activity on Monday. Stock investors purchased 640 put options on the stock. This represents an increase of 106% compared to the average volume of 310 put options.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly 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. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The firm had revenue of $117.40 million for the quarter, compared to analyst estimates of $117.34 million. During the same period in the previous year, the business earned $0.16 EPS. The company’s revenue was up 112.3% compared to the same quarter last year. Analysts anticipate that Applied Optoelectronics, Inc. will post $5.30 EPS for the current year.
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AAOI has been the subject of a number of recent research reports. Cowen and Company upped their price objective on shares of Applied Optoelectronics from $75.00 to $94.00 and gave the stock 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 report on Monday, July 31st. Vetr cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $84.73 price objective for the company. in a report on Friday, July 14th. ValuEngine upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Needham & Company LLC initiated coverage on shares of Applied Optoelectronics in a report on Monday, May 22nd. They issued a “strong-buy” rating and a $85.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, seven have given a buy rating and five have assigned a strong buy rating to the company’s stock. Applied Optoelectronics has an average rating of “Buy” and a consensus target price of $76.35.
A number of large investors have recently modified their holdings of AAOI. Whale Rock Capital Management LLC raised its position in 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 in the last quarter. Morgan Stanley raised its position in 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 in the last quarter. Renaissance Technologies LLC raised its position in 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 in the last quarter. Dimensional Fund Advisors LP raised its position in Applied Optoelectronics by 258.8% in the first quarter. Dimensional Fund Advisors LP now owns 260,273 shares of the semiconductor company’s stock valued at $14,614,000 after buying an additional 187,740 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in Applied Optoelectronics during the second quarter valued at $9,910,000. Hedge funds and other institutional investors own 77.36% of the company’s stock.
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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