Credit Suisse AG trimmed its holdings in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 68.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,401 shares of the semiconductor company’s stock after selling 9,397 shares during the period. Credit Suisse AG’s holdings in Applied Optoelectronics were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. Teachers Advisors LLC boosted its position in Applied Optoelectronics by 3.7% in the 4th quarter. Teachers Advisors LLC now owns 28,735 shares of the semiconductor company’s stock valued at $674,000 after buying an additional 1,037 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Applied Optoelectronics by 3.1% in the 1st quarter. Nationwide Fund Advisors now owns 10,566 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 315 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Applied Optoelectronics during the first quarter worth about $296,000. American Century Companies Inc. acquired a new stake in Applied Optoelectronics during the first quarter worth about $432,000. Finally, Bank of New York Mellon Corp raised its stake in Applied Optoelectronics by 28.4% during the first quarter. Bank of New York Mellon Corp now owns 111,387 shares of the semiconductor company’s stock worth $6,254,000 after acquiring an additional 24,630 shares during the period. 81.70% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Stefan J. Murry sold 3,050 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $70.21, for a total transaction of $214,140.50. Following the completion of the transaction, the chief financial officer now owns 57,540 shares in the company, valued at $4,039,883.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel David C. Kuo sold 578 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $96.47, for a total value of $55,759.66. Following the completion of the transaction, the general counsel now owns 23,753 shares of the company’s stock, valued at approximately $2,291,451.91. The disclosure for this sale can be found here. Insiders sold 35,633 shares of company stock valued at $2,878,525 in the last quarter. Corporate insiders own 8.19% of the company’s stock.
AAOI has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Applied Optoelectronics in a research note on Tuesday, September 5th. Raymond James Financial, Inc. restated a “strong-buy” rating on shares of Applied Optoelectronics in a research report on Thursday, August 31st. Cowen and Company restated an “outperform” rating and issued a $94.00 target price on shares of Applied Optoelectronics in a research report on Thursday, May 25th. BidaskClub upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Finally, ValuEngine cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $76.98.
Applied Optoelectronics, Inc. (NASDAQ AAOI) traded up 1.64% during trading on Friday, hitting $58.21. 923,947 shares of the stock were exchanged. The firm has a 50-day moving average of $68.30 and a 200-day moving average of $62.34. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 13.83 and a beta of 3.06. Applied Optoelectronics, Inc. has a 52 week low of $18.85 and a 52 week high of $103.41.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.28. The company had revenue of $117.40 million during the quarter, compared to analyst estimates of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. Applied Optoelectronics’s revenue was up 112.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Equities research analysts anticipate that Applied Optoelectronics, Inc. will post $5.38 earnings per share for the current fiscal year.
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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