Applied Optoelectronics Target of Unusually Large Options Trading (AAOI)
Applied Optoelectronics, Inc. (NASDAQ:AAOI) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 640 put options on the stock. This is an increase of approximately 106% compared to the average daily volume of 310 put options.
Applied Optoelectronics (AAOI) opened at $45.04 on Friday. Applied Optoelectronics has a 52 week low of $21.88 and a 52 week high of $103.41. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $868.32, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 0.62 and a beta of 2.90.
Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.23). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The business had revenue of $88.90 million during the quarter, compared to the consensus estimate of $88.53 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. equities analysts anticipate that Applied Optoelectronics will post 4.2 earnings per share for the current fiscal year.
In other news, Director Chewei Lin sold 7,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 45,638 shares of the company’s stock, valued at approximately $2,647,004. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard B. Black sold 1,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $58.52, for a total transaction of $58,520.00. Following the sale, the director now directly owns 38,478 shares of the company’s stock, valued at approximately $2,251,732.56. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock valued at $568,140 in the last ninety days. Insiders own 8.19% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. State of Tennessee Treasury Department bought a new position in Applied Optoelectronics in the 2nd quarter worth approximately $23,563,000. Robeco Institutional Asset Management B.V. bought a new position in Applied Optoelectronics in the 2nd quarter worth approximately $9,910,000. Bourne Lent Asset Management Inc. boosted its stake in Applied Optoelectronics by 21.8% in the 2nd quarter. Bourne Lent Asset Management Inc. now owns 8,650 shares of the semiconductor company’s stock worth $534,000 after purchasing an additional 1,550 shares during the period. Great West Life Assurance Co. Can bought a new position in Applied Optoelectronics in the 2nd quarter worth approximately $1,583,000. Finally, LSV Asset Management boosted its position in shares of Applied Optoelectronics by 76.4% during the 2nd quarter. LSV Asset Management now owns 82,200 shares of the semiconductor company’s stock valued at $5,079,000 after acquiring an additional 35,600 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.
Several research firms recently issued reports on AAOI. Vetr lowered shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 target price for the company. in a report on Monday, August 7th. Cowen and Company reissued an “outperform” rating and issued a $81.00 target price (down from $102.00) on shares of Applied Optoelectronics in a report on Friday, October 13th. Needham & Company LLC reduced their target price on shares of Applied Optoelectronics from $75.00 to $50.00 and set a “strong-buy” rating for the company in a report on Wednesday, November 8th. TheStreet lowered shares of Applied Optoelectronics from a “b-” rating to a “c” rating in a report on Wednesday. Finally, Craig Hallum lowered shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and four have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $62.53.
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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