California State Teachers Retirement System cut its position in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,567 shares of the semiconductor company’s stock after selling 3,025 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Applied Optoelectronics worth $2,012,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Private Advisory Group LLC lifted its position in Applied Optoelectronics by 25.4% in the 2nd quarter. Private Advisory Group LLC now owns 6,672 shares of the semiconductor company’s stock valued at $413,000 after purchasing an additional 1,350 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Applied Optoelectronics by 11.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,671 shares of the semiconductor company’s stock worth $907,000 after buying an additional 1,461 shares in the last quarter. C M Bidwell & Associates Ltd. raised its position in shares of Applied Optoelectronics by 28.9% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 5,325 shares of the semiconductor company’s stock worth $329,000 after buying an additional 1,195 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Applied Optoelectronics during the 2nd quarter worth about $421,000. Finally, State Street Corp raised its position in shares of Applied Optoelectronics by 33.8% during the 2nd quarter. State Street Corp now owns 444,624 shares of the semiconductor company’s stock worth $27,474,000 after buying an additional 112,339 shares in the last quarter. Hedge funds and other institutional investors own 83.33% of the company’s stock.
Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) opened at $43.90 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. 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 market cap of $864.06, a P/E ratio of 10.59, a P/E/G ratio of 0.62 and a beta of 2.90.
Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.23). Applied Optoelectronics had a return on equity of 32.35% and a net margin of 21.29%. The business had revenue of $88.90 million during the quarter, compared to the consensus estimate of $88.53 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. analysts predict that Applied Optoelectronics, Inc. will post 4.2 earnings per share for the current fiscal year.
In other news, Director Alan D. Moore bought 22,400 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $44.60 per share, with a total value of $999,040.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard B. Black sold 1,000 shares of Applied Optoelectronics stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $43.00, for a total transaction of $43,000.00. Following the completion of the transaction, the director now directly owns 36,478 shares in the company, valued at $1,568,554. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock worth $568,140 over the last quarter. Insiders own 8.19% of the company’s stock.
A number of research firms have commented on AAOI. ValuEngine upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Vetr downgraded shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 price target on the stock. in a research report on Monday, August 7th. Needham & Company LLC dropped their price target on shares of Applied Optoelectronics from $75.00 to $50.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, November 8th. Cowen and Company restated an “outperform” rating and set a $81.00 price target (down from $102.00) on shares of Applied Optoelectronics in a research report on Friday, October 13th. Finally, Craig Hallum downgraded shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the company. Applied Optoelectronics has an average rating of “Buy” and a consensus target price of $62.53.
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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