NewEdge Advisors LLC acquired a new stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI – Free Report) during the first quarter, HoldingsChannel reports. The fund acquired 8,545 shares of the semiconductor company’s stock, valued at approximately $723,000.
Several other institutional investors also recently bought and sold shares of AAOI. California State Teachers Retirement System lifted its stake in shares of Applied Optoelectronics by 23.2% in the 1st quarter. California State Teachers Retirement System now owns 70,464 shares of the semiconductor company’s stock worth $5,961,000 after acquiring an additional 13,265 shares during the period. Andar Capital Management HK Ltd acquired a new position in shares of Applied Optoelectronics during the first quarter worth about $11,335,000. Assenagon Asset Management S.A. acquired a new position in shares of Applied Optoelectronics during the first quarter worth about $4,125,000. Next Century Growth Investors LLC purchased a new position in Applied Optoelectronics during the fourth quarter worth about $16,220,000. Finally, Swiss National Bank raised its holdings in Applied Optoelectronics by 9.8% during the first quarter. Swiss National Bank now owns 128,300 shares of the semiconductor company’s stock worth $10,853,000 after purchasing an additional 11,500 shares in the last quarter. 61.70% of the stock is owned by institutional investors and hedge funds.
Applied Optoelectronics Stock Down 7.0%
Shares of NASDAQ AAOI opened at $122.19 on Thursday. Applied Optoelectronics, Inc. has a 12-month low of $18.50 and a 12-month high of $233.67. The company has a market capitalization of $10.33 billion, a PE ratio of -156.65 and a beta of 3.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.78 and a quick ratio of 2.13. The firm’s 50-day moving average is $129.48 and its two-hundred day moving average is $124.25.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. B. Riley Financial reaffirmed a “neutral” rating on shares of Applied Optoelectronics in a report on Friday, August 7th. Needham & Company LLC reduced their price target on Applied Optoelectronics from $220.00 to $190.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings downgraded Applied Optoelectronics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen raised Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price objective on shares of Applied Optoelectronics in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Applied Optoelectronics presently has a consensus rating of “Hold” and a consensus price target of $139.40.
Read Our Latest Report on AAOI
Insider Activity
In other Applied Optoelectronics news, insider Hung-Lun (Fred) Chang sold 40,329 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $170.60, for a total transaction of $6,880,127.40. Following the completion of the transaction, the insider owned 286,124 shares of the company’s stock, valued at approximately $48,812,754.40. This trade represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David C. Kuo sold 29,227 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $166.53, for a total value of $4,867,172.31. Following the completion of the sale, the insider owned 149,078 shares in the company, valued at $24,825,959.34. This represents a 16.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 323,204 shares of company stock worth $55,700,961 in the last quarter. 3.80% of the stock is currently owned by corporate insiders.
About Applied Optoelectronics
Applied Optoelectronics, Inc develops and manufactures high-speed fiber-optic networking products designed to support the growing bandwidth demands of data centers, telecommunications carriers and internet content providers. The company’s core offerings include pluggable optical transceiver modules, transponders and optical components that enable data transmission at rates ranging from 1G to 400G. These products are used to facilitate long-haul, metro and intra-data center connectivity, addressing the need for scalable, low-latency and energy-efficient solutions in modern network infrastructures.
The company’s product portfolio spans small-form factor pluggable modules such as SFP+, QSFP+ and QSFP28 units, as well as more advanced form factors like CFP2 and OSFP for ultra-high-speed applications.
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