Alliancebernstein L.P. raised its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 29.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,500 shares of the semiconductor company’s stock after buying an additional 4,000 shares during the period. Alliancebernstein L.P.’s holdings in Applied Optoelectronics were worth $983,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAOI. American International Group Inc. increased its position in Applied Optoelectronics by 7.1% in the first quarter. American International Group Inc. now owns 10,158 shares of the semiconductor company’s stock worth $570,000 after buying an additional 673 shares during the period. SG Americas Securities LLC acquired a new position in Applied Optoelectronics during the first quarter worth $196,000. OMERS ADMINISTRATION Corp acquired a new position in Applied Optoelectronics during the first quarter worth $1,275,000. Raymond James Financial Services Advisors Inc. increased its position in Applied Optoelectronics by 150.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 66,248 shares of the semiconductor company’s stock worth $3,720,000 after buying an additional 39,752 shares during the period. Finally, Insight Capital Research & Management Inc. purchased a new stake in shares of Applied Optoelectronics during the first quarter worth approximately $3,085,000. 79.40% of the stock is owned by institutional investors and hedge funds.
Shares of Applied Optoelectronics, Inc. (NASDAQ AAOI) opened at 64.10 on Friday. The firm has a 50-day moving average of $78.28 and a 200 day moving average of $59.12. Applied Optoelectronics, Inc. has a 52 week low of $13.34 and a 52 week high of $103.41. The firm has a market cap of $1.24 billion, a PE ratio of 15.23 and a beta of 2.98.
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AAOI has been the subject of a number of recent analyst reports. DA Davidson set a $103.00 price target on shares of Applied Optoelectronics and gave the company a “buy” rating in a research note on Saturday, August 5th. ValuEngine upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. 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 target for the company. Cowen and Company reiterated an “outperform” rating and issued a $102.00 price target (up previously from $100.00) on shares of Applied Optoelectronics in a research note on Wednesday, August 9th. Finally, Vetr cut shares of Applied Optoelectronics from a “buy” rating to a “hold” rating and set a $76.95 price target for the company. in a research note on Monday, June 5th. Three research analysts have rated the stock with a sell rating, six have issued a buy rating and six have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $76.98.
In related news, Director William H. Yeh sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $72.12, for a total value of $2,163,600.00. Following the transaction, the director now directly owns 71,167 shares of the company’s stock, valued at approximately $5,132,564.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stefan J. Murry sold 3,050 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $70.21, for a total value of $214,140.50. Following the completion of the transaction, the chief financial officer now directly owns 57,540 shares in the company, valued at $4,039,883.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,140 shares of company stock valued at $5,894,795. 8.19% of the stock is currently owned by corporate insiders.
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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