Emerald Advisers Inc. PA reduced its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 48.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,276 shares of the semiconductor company’s stock after selling 95,575 shares during the period. Emerald Advisers Inc. PA owned approximately 0.52% of Applied Optoelectronics worth $6,550,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in AAOI. BlackRock Inc. raised its stake in shares of Applied Optoelectronics by 86.8% in the second quarter. BlackRock Inc. now owns 2,093,297 shares of the semiconductor company’s stock valued at $129,346,000 after acquiring an additional 972,428 shares in the last quarter. FMR LLC acquired a new stake in shares of Applied Optoelectronics in the second quarter valued at $45,101,000. Balyasny Asset Management LLC acquired a new stake in shares of Applied Optoelectronics in the second quarter valued at $44,798,000. State of Tennessee Treasury Department acquired a new stake in shares of Applied Optoelectronics in the second quarter valued at $23,563,000. Finally, Vanguard Group Inc. raised its stake in shares of Applied Optoelectronics by 49.8% in the second quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock valued at $58,917,000 after acquiring an additional 317,033 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.
Shares of Applied Optoelectronics, Inc. (NASDAQ AAOI) opened at $37.82 on Friday. Applied Optoelectronics, Inc. has a 52 week low of $20.63 and a 52 week high of $103.41. The firm has a market capitalization of $730.05 million, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.52 and a beta of 2.90. The company has a quick ratio of 2.07, a current ratio of 2.85 and a debt-to-equity ratio of 0.07.
Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results 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 analysts’ expectations of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. Applied Optoelectronics’s quarterly revenue was up 112.3% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. equities research analysts predict that Applied Optoelectronics, Inc. will post 4.28 EPS for the current year.
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Several analysts have recently issued reports on the company. Northland Securities cut Applied Optoelectronics from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $47.00 to $43.00 in a research note on Friday, August 4th. BidaskClub upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Raymond James Financial, Inc. reiterated a “strong-buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, July 25th. Needham & Company LLC increased their price objective on 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, BWS Financial reiterated a “sell” rating and issued a $25.00 price objective on shares of Applied Optoelectronics in a research note on Saturday, July 22nd. Four research analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $70.42.
In other Applied Optoelectronics news, CFO Stefan J. Murry sold 3,050 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Chewei Lin sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was 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 in the company, valued at approximately $2,647,004. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,939 shares of company stock worth $867,611. Corporate insiders own 8.19% of the company’s stock.
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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