US Bancorp DE boosted its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 504.2% during the second quarter, Holdings Channel reports. The firm owned 9,087 shares of the semiconductor company’s stock after buying an additional 7,583 shares during the period. US Bancorp DE’s holdings in Applied Optoelectronics were worth $561,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in 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 period. Dimensional Fund Advisors LP raised its position in 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 period. Teachers Advisors LLC raised its position in Applied Optoelectronics by 3.7% in the fourth quarter. Teachers Advisors LLC now owns 28,735 shares of the semiconductor company’s stock worth $674,000 after buying an additional 1,037 shares during the period. Telemus Capital LLC purchased a new position in Applied Optoelectronics during the first quarter worth $618,000. Finally, Nationwide Fund Advisors raised its position in Applied Optoelectronics by 3.1% in the first quarter. Nationwide Fund Advisors now owns 10,566 shares of the semiconductor company’s stock worth $593,000 after buying an additional 315 shares during the period. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Shares of Applied Optoelectronics, Inc. (NASDAQ AAOI) traded down 2.36% during midday trading on Wednesday, hitting $66.57. 2,134,607 shares of the company’s stock traded hands. The stock has a market cap of $1.29 billion, a P/E ratio of 15.82 and a beta of 2.98. Applied Optoelectronics, Inc. has a 52 week low of $13.06 and a 52 week high of $103.41. The company has a 50 day moving average of $77.85 and a 200 day moving average of $58.79.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The company had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $117.34 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The company’s revenue for the quarter was up 112.3% compared to the same quarter last year. On average, equities analysts forecast that Applied Optoelectronics, Inc. will post $5.38 EPS for the current fiscal year.

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A number of equities analysts recently weighed in on AAOI shares. Cowen and Company lifted their price objective on shares of Applied Optoelectronics from $66.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, April 18th. Roth Capital reiterated a “buy” rating and issued a $70.00 price objective (up from $60.00) on shares of Applied Optoelectronics in a research report on Friday, May 5th. Vetr lowered shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $68.41 price objective on the stock. in a research report on Tuesday, May 9th. ValuEngine upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a research report on Thursday, May 18th. Finally, Needham & Company LLC started coverage on shares of Applied Optoelectronics in a research report on Monday, May 22nd. They issued a “strong-buy” rating and a $85.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a buy rating and six have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $76.98.

In other news, Director Richard B. Black sold 1,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $66.10, for a total value of $66,100.00. Following the completion of the transaction, the director now owns 39,478 shares of the company’s stock, valued at $2,609,495.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chewei Lin sold 7,500 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $64.00, for a total value of $480,000.00. Following the completion of the transaction, the director now directly owns 53,717 shares of the company’s stock, valued at approximately $3,437,888. The disclosure for this sale can be found here. In the last three months, insiders sold 85,758 shares of company stock valued at $6,361,854. Company insiders own 8.19% of the company’s stock.

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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Institutional Ownership by Quarter for Applied Optoelectronics (NASDAQ:AAOI)

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