Goldman Sachs Group Inc. grew its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 1,244.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,144 shares of the semiconductor company’s stock after purchasing an additional 158,419 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.89% of Applied Optoelectronics worth $10,575,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in AAOI. BlackRock Inc. boosted its stake in shares of Applied Optoelectronics by 86.8% during the second quarter. BlackRock Inc. now owns 2,093,297 shares of the semiconductor company’s stock valued at $129,346,000 after purchasing an additional 972,428 shares in the last quarter. FMR LLC acquired a new stake in shares of Applied Optoelectronics during the second quarter valued at about $45,101,000. Balyasny Asset Management LLC acquired a new position in shares of Applied Optoelectronics in the second quarter worth approximately $44,798,000. State of Tennessee Treasury Department acquired a new position in shares of Applied Optoelectronics in the second quarter worth approximately $23,563,000. Finally, Morgan Stanley lifted its stake in shares of Applied Optoelectronics by 245.9% in the first quarter. Morgan Stanley now owns 521,051 shares of the semiconductor company’s stock worth $29,257,000 after acquiring an additional 370,427 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on AAOI. Northland Securities lowered Applied Optoelectronics from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $47.00 to $43.00 in a research note on Friday, August 4th. BidaskClub upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Raymond James Financial, Inc. reiterated a “strong-buy” rating on shares of Applied Optoelectronics in a report on Tuesday, July 25th. Needham & Company LLC lifted their target price on Applied Optoelectronics from $100.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Monday, July 24th. Finally, BWS Financial restated a “sell” rating and set a $25.00 price objective on shares of Applied Optoelectronics in a report on Saturday, July 22nd. Four research analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $70.42.
In other news, General Counsel David C. Kuo sold 578 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $96.47, for a total transaction of $55,759.66. Following the completion of the sale, the general counsel now owns 23,753 shares in the company, valued at approximately $2,291,451.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David C. Kuo sold 889 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $70.00, for a total transaction of $62,230.00. Following the sale, the general counsel now owns 22,864 shares of the company’s stock, valued at approximately $1,600,480. The disclosure for this sale can be found here. Insiders sold a total of 14,517 shares of company stock worth $923,370 over the last three months. Corporate insiders own 8.19% of the company’s stock.
Applied Optoelectronics, Inc. (NASDAQ:AAOI) opened at 39.27 on Friday. The stock has a market cap of $758.03 million, a PE ratio of 9.33 and a beta of 3.06. The firm has a 50-day moving average price of $56.36 and a 200 day moving average price of $63.43. Applied Optoelectronics, Inc. has a 52-week low of $18.85 and a 52-week high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The business had revenue of $117.40 million for the quarter, compared to analyst estimates of $117.34 million. During the same period last year, the company posted $0.16 EPS. The business’s revenue was up 112.3% on a year-over-year basis. On average, analysts forecast that Applied Optoelectronics, Inc. will post $4.62 earnings per share for the current fiscal year.
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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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