Raymond James Financial Services Advisors Inc. increased its position in shares of Applied Optoelectronics Inc (NASDAQ:AAOI) by 6.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,685 shares of the semiconductor company’s stock after purchasing an additional 3,069 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.26% of Applied Optoelectronics worth $2,276,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAOI. PNC Financial Services Group Inc. boosted its stake in Applied Optoelectronics by 29.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the semiconductor company’s stock valued at $195,000 after acquiring an additional 1,744 shares during the last quarter. Swiss National Bank boosted its stake in Applied Optoelectronics by 6.0% in the first quarter. Swiss National Bank now owns 32,000 shares of the semiconductor company’s stock valued at $802,000 after acquiring an additional 1,800 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Applied Optoelectronics by 49.4% in the first quarter. OppenheimerFunds Inc. now owns 9,552 shares of the semiconductor company’s stock valued at $239,000 after acquiring an additional 3,158 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Applied Optoelectronics in the second quarter valued at about $204,000. Finally, HL Financial Services LLC boosted its stake in Applied Optoelectronics by 10.0% in the first quarter. HL Financial Services LLC now owns 50,328 shares of the semiconductor company’s stock valued at $1,261,000 after acquiring an additional 4,592 shares during the last quarter. Hedge funds and other institutional investors own 67.32% of the company’s stock.
In other news, CFO Stefan J. Murry sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $44.25, for a total value of $132,750.00. Following the sale, the chief financial officer now owns 67,695 shares of the company’s stock, valued at $2,995,503.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.
NASDAQ AAOI opened at $40.16 on Friday. Applied Optoelectronics Inc has a 12-month low of $22.54 and a 12-month high of $71.29. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.92 and a current ratio of 3.22. The company has a market capitalization of $837.16 million, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.87 and a beta of 2.56.
Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.30. Applied Optoelectronics had a net margin of 10.95% and a return on equity of 14.77%. The company had revenue of $87.82 million for the quarter, compared to analyst estimates of $77.29 million. research analysts predict that Applied Optoelectronics Inc will post 1.82 earnings per share for the current fiscal year.
A number of research firms have weighed in on AAOI. Rosenblatt Securities reiterated a “sell” rating and issued a $30.00 target price on shares of Applied Optoelectronics in a research note on Wednesday, July 11th. BidaskClub upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. Craig Hallum set a $28.00 target price on shares of Applied Optoelectronics and gave the company a “sell” rating in a research note on Wednesday, August 8th. B. Riley boosted their target price on shares of Applied Optoelectronics from $30.50 to $34.50 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Finally, Needham & Company LLC cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $39.35.
Applied Optoelectronics Company Profile
Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.
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