Traders Purchase High Volume of Put Options on Applied Optoelectronics (AAOI)
Applied Optoelectronics, Inc. (NASDAQ:AAOI) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 640 put options on the company. This is an increase of 106% compared to the average daily volume of 310 put options.
Shares of Applied Optoelectronics (AAOI) opened at $37.82 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $758.23 million, a price-to-earnings ratio of 10.97, a P/E/G ratio of 0.52 and a beta of 2.90.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.28. The business had revenue of $117.40 million during 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 was up 112.3% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. research analysts predict that Applied Optoelectronics will post 4.28 EPS for the current year.
A number of research analysts have issued reports on the stock. BidaskClub raised shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Vetr lowered shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 target price for the company. in a research note on Monday, August 7th. Cowen and Company reissued an “outperform” rating and set a $81.00 target price (down from $102.00) on shares of Applied Optoelectronics in a research note on Friday, October 13th. Needham & Company LLC boosted their target price on shares of Applied Optoelectronics from $100.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Monday, July 24th. Finally, Roth Capital boosted their target price on shares of Applied Optoelectronics from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $70.42.
In other Applied Optoelectronics news, Director Richard B. Black sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $60.62, for a total transaction of $60,620.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stefan J. Murry sold 3,050 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.21, for a total transaction of $214,140.50. Following the transaction, the chief financial officer now directly owns 57,540 shares of the company’s stock, valued at $4,039,883.40. The disclosure for this sale can be found here. Insiders have sold a total of 13,939 shares of company stock valued at $867,611 over the last three months. 8.19% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC purchased a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $115,000. Citigroup Inc. increased its stake in shares of Applied Optoelectronics by 96.2% in the 2nd quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 993 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $137,000. Pinebridge Investments L.P. purchased a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $144,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $149,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This report was first reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/11/04/traders-purchase-high-volume-of-put-options-on-applied-optoelectronics-aaoi.html.
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.
Receive News & Ratings for Applied Optoelectronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.