Vanguard Group Inc. lifted its stake in Applied Optoelectronics Inc (NASDAQ:AAOI) by 49.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 953,505 shares of the semiconductor company’s stock after acquiring an additional 317,033 shares during the quarter. Vanguard Group Inc. owned approximately 5.02% of Applied Optoelectronics worth $58,917,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citigroup Inc. increased its stake in shares of Applied Optoelectronics by 96.2% in 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 during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Applied Optoelectronics in the second quarter worth $144,000. PNC Financial Services Group Inc. acquired a new position in shares of Applied Optoelectronics in the second quarter worth $149,000. SG Americas Securities LLC acquired a new position in shares of Applied Optoelectronics in the first quarter worth $196,000. Finally, Capstone Asset Management Co. acquired a new position in shares of Applied Optoelectronics in the second quarter worth $203,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.
Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a net margin of 24.77% and a return on equity of 39.95%. The firm had revenue of $117.40 million during the quarter, compared to the consensus estimate of $117.34 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 112.3% compared to the same quarter last year.
AAOI has been the topic of a number of research reports. BidaskClub raised shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. DA Davidson increased their target price on shares of Applied Optoelectronics from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Roth Capital increased their target price on shares of Applied Optoelectronics from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Craig Hallum reissued a “buy” rating and set a $95.00 target price (up from $85.00) on shares of Applied Optoelectronics in a research report on Friday, July 14th. Finally, Vetr downgraded shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $84.73 target price on the stock. in a research report on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and four have issued a strong buy rating to the stock. Applied Optoelectronics has a consensus rating of “Buy” and an average target price of $70.42.
In related news, Director Chewei Lin sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $58.00, for a total transaction of $406,000.00. Following the completion of the transaction, the director now directly owns 45,638 shares in the company, valued at approximately $2,647,004. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stefan J. Murry sold 3,050 shares of the company’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 transaction of $214,140.50. Following the transaction, the chief financial officer now owns 57,540 shares of the company’s stock, valued at $4,039,883.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,939 shares of company stock valued at $867,611. 8.19% of the stock is currently owned by insiders.
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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