Insider Selling: Applied Optoelectronics Inc. (AAOI) CFO Sells $69,723.00 in Stock
Applied Optoelectronics Inc. (NASDAQ:AAOI) CFO Stefan J. Murry sold 3,660 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $19.05, for a total transaction of $69,723.00. Following the sale, the chief financial officer now owns 35,093 shares of the company’s stock, valued at $668,521.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Applied Optoelectronics Inc. (NASDAQ:AAOI) opened at 22.03 on Tuesday. Applied Optoelectronics Inc. has a 12-month low of $8.08 and a 12-month high of $22.32. The stock’s 50 day moving average is $16.16 and its 200-day moving average is $13.34. The stock has a market capitalization of $377.59 million, a price-to-earnings ratio of 81.29 and a beta of 2.37.
Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Thursday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. Applied Optoelectronics had a net margin of 2.16% and a return on equity of 6.01%. The company had revenue of $55.30 million for the quarter, compared to analysts’ expectations of $50.84 million. During the same quarter in the previous year, the company earned $0.38 EPS. Applied Optoelectronics’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts expect that Applied Optoelectronics Inc. will post $0.70 earnings per share for the current year.
AAOI has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Roth Capital restated a “buy” rating on shares of Applied Optoelectronics in a research report on Tuesday, August 2nd. TheStreet upgraded shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Friday, August 19th. Finally, Craig Hallum upped their price target on shares of Applied Optoelectronics from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.83.
A number of hedge funds have recently made changes to their positions in AAOI. Blue Rock Advisors LLC bought a new stake in shares of Applied Optoelectronics during the first quarter worth about $164,000. Royce & Associates LP increased its stake in shares of Applied Optoelectronics by 14.3% in the first quarter. Royce & Associates LP now owns 20,000 shares of the company’s stock worth $298,000 after buying an additional 2,500 shares in the last quarter. State Street Corp increased its stake in shares of Applied Optoelectronics by 8.3% in the first quarter. State Street Corp now owns 240,937 shares of the company’s stock worth $3,589,000 after buying an additional 18,399 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Applied Optoelectronics during the first quarter worth about $380,000. Finally, Geode Capital Management LLC increased its stake in shares of Applied Optoelectronics by 1.8% in the first quarter. Geode Capital Management LLC now owns 102,242 shares of the company’s stock worth $1,524,000 after buying an additional 1,854 shares in the last quarter. Institutional investors own 78.60% of the company’s stock.
About Applied Optoelectronics
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products. The Company offers its products for approximately three networking end markets, such as Internet data center; cable television (CATV), and fiber-to-the-home (FTTH). 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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