Eqis Capital Management Inc. Buys New Stake in Applied Optoelectronics, Inc. (AAOI)
Eqis Capital Management Inc. acquired a new position in Applied Optoelectronics, Inc. (NASDAQ:AAOI) during the second quarter, Holdings Channel reports. The fund acquired 16,855 shares of the semiconductor company’s stock, valued at approximately $1,041,000.
A number of other institutional investors also recently added to or reduced their stakes in AAOI. Russell Investments Group Ltd. acquired a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $2,293,000. State Street Corp boosted its stake in shares of Applied Optoelectronics by 5.9% in the fourth quarter. State Street Corp now owns 262,066 shares of the semiconductor company’s stock worth $6,143,000 after buying an additional 14,484 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Applied Optoelectronics by 103.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 72,533 shares of the semiconductor company’s stock worth $1,700,000 after buying an additional 36,802 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $4,081,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $264,000. 78.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Applied Optoelectronics, Inc. (AAOI) opened at 84.20 on Monday. Applied Optoelectronics, Inc. has a 52-week low of $11.38 and a 52-week high of $86.36. The company has a market cap of $1.60 billion, a PE ratio of 29.67 and a beta of 2.85. The company’s 50-day moving average is $65.96 and its 200 day moving average is $46.42. Applied Optoelectronics also was the target of unusually large options trading on Friday. Stock investors bought 9,719 call options on the stock. This represents an increase of approximately 143% compared to the average daily volume of 3,995 call options.
Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, May 4th. The semiconductor company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.01 by $0.09. Applied Optoelectronics had a return on equity of 23.75% and a net margin of 17.08%. The business had revenue of $96.20 million during the quarter, compared to the consensus estimate of $96.20 million. During the same quarter last year, the company earned ($0.04) EPS. The firm’s revenue was up 90.9% compared to the same quarter last year. On average, analysts anticipate that Applied Optoelectronics, Inc. will post $5.01 EPS for the current year.
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A number of brokerages have recently issued reports on AAOI. Roth Capital reissued a “buy” rating and issued a $70.00 target price (up previously from $60.00) on shares of Applied Optoelectronics in a research report on Friday, May 5th. BidaskClub cut shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Cowen and Company boosted their target price on shares of Applied Optoelectronics from $75.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Needham & Company LLC boosted their target price on shares of Applied Optoelectronics from $85.00 to $100.00 and gave the company a “strong-buy” rating in a research report on Friday. Finally, Vetr raised shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating and set a $72.75 target price for the company in a research report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $78.97.
In other Applied Optoelectronics news, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $59.70, for a total value of $59,700.00. Following the completion of the transaction, the director now owns 40,478 shares in the company, valued at approximately $2,416,536.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hung-Lun (Fred) Chang sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $59.50, for a total value of $595,000.00. Following the completion of the transaction, the insider now owns 46,054 shares of the company’s stock, valued at approximately $2,740,213. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,048 shares of company stock valued at $7,713,586. 8.19% of the stock is owned by corporate insiders.
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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