Applied Optoelectronics, Inc. (NASDAQ:AAOI) General Counsel David C. Kuo Sells 889 Shares

Applied Optoelectronics, Inc. (NASDAQ:AAOI) General Counsel David C. Kuo sold 889 shares of Applied Optoelectronics stock in a transaction on Monday, August 7th. The stock was sold at an average price of $70.00, for a total value of $62,230.00. Following the sale, the general counsel now directly owns 22,864 shares of the company’s stock, valued at $1,600,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Applied Optoelectronics, Inc. (NASDAQ:AAOI) opened at 64.10 on Friday. The firm has a market cap of $1.24 billion, a P/E ratio of 15.23 and a beta of 2.98. The firm’s 50-day moving average price is $78.28 and its 200-day moving average price is $59.12. Applied Optoelectronics, Inc. has a 12 month low of $13.34 and a 12 month high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last issued 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 company had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The firm’s revenue for the quarter was up 112.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, equities research analysts expect that Applied Optoelectronics, Inc. will post $5.38 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Flinton Capital Management LLC bought a new position in shares of Applied Optoelectronics during the second quarter worth $115,000. Citigroup Inc. increased its position in Applied Optoelectronics by 96.2% in the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 993 shares during the last quarter. Advisory Services Network LLC acquired a new position in Applied Optoelectronics during the second quarter valued at $137,000. Pinebridge Investments L.P. acquired a new position in Applied Optoelectronics during the second quarter valued at $144,000. Finally, PNC Financial Services Group Inc. acquired a new position in Applied Optoelectronics during the second quarter valued at $149,000. Institutional investors own 79.40% of the company’s stock.

AAOI has been the topic of several recent analyst reports. Cowen and Company lifted their target price on Applied Optoelectronics from $75.00 to $94.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. BidaskClub upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Vetr lowered Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $84.73 price target on the stock. in a report on Friday, July 14th. ValuEngine upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Finally, BWS Financial set a $25.00 price target on Applied Optoelectronics and gave the company a “sell” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, six have issued a buy rating and six have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $76.98.

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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