Applied Optoelectronics Target of Unusually High Options Trading (AAOI)
Applied Optoelectronics, Inc. (NASDAQ:AAOI) saw unusually large options trading on Monday. Stock traders purchased 640 put options on the stock. This is an increase of approximately 106% compared to the average daily volume of 310 put options.
Shares of Applied Optoelectronics (NASDAQ:AAOI) opened at 59.43 on Thursday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 14.12 and a beta of 3.06. Applied Optoelectronics has a one year low of $18.85 and a one year high of $103.41. The stock’s 50 day moving average price is $61.55 and its 200 day moving average price is $63.77.
Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.28. The firm had revenue of $117.40 million for the quarter, compared to analyst estimates of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The company’s revenue for the quarter was up 112.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. On average, analysts forecast that Applied Optoelectronics will post $5.32 EPS for the current year.
In related news, General Counsel David C. Kuo sold 1,116 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $94.87, for a total transaction of $105,874.92. Following the completion of the transaction, the general counsel now owns 25,041 shares of the company’s stock, valued at $2,375,639.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chewei Lin sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $58.00, for a total value of $406,000.00. Following the transaction, the director now directly owns 45,638 shares of the company’s stock, valued at approximately $2,647,004. The disclosure for this sale can be found here. In the last three months, insiders sold 34,633 shares of company stock valued at $2,818,825. Company insiders own 8.19% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AAOI. Flinton Capital Management LLC bought a new position in Applied Optoelectronics during the second quarter worth about $115,000. Citigroup Inc. lifted its holdings in Applied Optoelectronics by 96.2% during the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 993 shares in the last quarter. Advisory Services Network LLC bought a new position in Applied Optoelectronics during the second quarter worth about $137,000. Pinebridge Investments L.P. bought a new position in Applied Optoelectronics during the second quarter worth about $144,000. Finally, PNC Financial Services Group Inc. bought a new position in Applied Optoelectronics during the second quarter worth about $149,000. Hedge funds and other institutional investors own 81.63% of the company’s stock.
Several research analysts recently weighed in on the company. BidaskClub raised Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Vetr downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 target price for the company. in a report on Monday, August 7th. Roth Capital upped their target price on Applied Optoelectronics from $70.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Cowen and Company reaffirmed an “outperform” rating and set a $100.00 target price (up from $94.00) on shares of Applied Optoelectronics in a report on Friday, July 14th. Finally, Needham & Company LLC upped their target price on Applied Optoelectronics from $100.00 to $115.00 and gave the company a “strong-buy” rating in a report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $80.98.
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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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