King Wealth Management Group LLC lessened its position in Applied Optoelectronics Inc (NASDAQ:AAOI) by 30.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,000 shares of the semiconductor company’s stock after selling 3,500 shares during the quarter. King Wealth Management Group LLC’s holdings in Applied Optoelectronics were worth $517,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department purchased a new position in shares of Applied Optoelectronics in the 2nd quarter valued at approximately $23,563,000. Robeco Institutional Asset Management B.V. purchased a new position in Applied Optoelectronics during the second quarter valued at $9,910,000. Great West Life Assurance Co. Can purchased a new position in Applied Optoelectronics during the second quarter valued at $1,583,000. LSV Asset Management raised its stake in Applied Optoelectronics by 76.4% during the second quarter. LSV Asset Management now owns 82,200 shares of the semiconductor company’s stock valued at $5,079,000 after buying an additional 35,600 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Applied Optoelectronics by 132.5% during the second quarter. Public Employees Retirement System of Ohio now owns 123,224 shares of the semiconductor company’s stock valued at $7,614,000 after buying an additional 70,224 shares during the last quarter. Institutional investors own 76.69% of the company’s stock.
In other news, Director Richard B. Black sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $60.62, for a total value of $60,620.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Chewei Lin sold 7,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $58.00, for a total value of $406,000.00. Following the completion of the transaction, the director now owns 45,638 shares in the company, valued at $2,647,004. The disclosure for this sale can be found here. Insiders have sold 13,900 shares of company stock valued at $731,374 in the last three months. 8.19% of the stock is currently owned by corporate insiders.
A number of brokerages have issued reports on AAOI. BidaskClub cut Applied Optoelectronics from a “sell” rating to a “strong sell” rating in a research note on Saturday. Cowen restated a “buy” rating and issued a $60.00 price target (down previously from $74.00) on shares of Applied Optoelectronics in a research note on Thursday. TheStreet cut Applied Optoelectronics from a “b-” rating to a “c” rating in a research note on Wednesday, November 15th. ValuEngine upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 14th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $51.00 price target on shares of Applied Optoelectronics in a research note on Friday, November 10th. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $60.20.
Shares of Applied Optoelectronics Inc (AAOI) opened at $38.69 on Friday. Applied Optoelectronics Inc has a fifty-two week low of $21.88 and a fifty-two week high of $103.41. The company has a current ratio of 2.99, a quick ratio of 2.02 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $749.89, a PE ratio of 9.19, a price-to-earnings-growth ratio of 0.59 and a beta of 2.88.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.23). Applied Optoelectronics had a net margin of 21.29% and a return on equity of 32.35%. The company had revenue of $88.90 million for the quarter, compared to the consensus estimate of $88.53 million. During the same period in the prior year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. equities research analysts expect that Applied Optoelectronics Inc will post 4.22 EPS for the current fiscal year.
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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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