Thrivent Financial For Lutherans acquired a new stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,720 shares of the semiconductor company’s stock, valued at approximately $662,000. Thrivent Financial For Lutherans owned about 0.06% of Applied Optoelectronics at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in Applied Optoelectronics in the second quarter valued at about $149,000. Capstone Asset Management Co. bought a new stake in Applied Optoelectronics in the second quarter valued at about $203,000. Marvin & Palmer Associates Inc. bought a new stake in Applied Optoelectronics in the second quarter valued at about $207,000. Affinity Wealth Management bought a new stake in Applied Optoelectronics in the second quarter valued at about $213,000. Finally, SG Americas Securities LLC bought a new stake in Applied Optoelectronics in the first quarter valued at about $196,000. Institutional investors and hedge funds own 81.59% of the company’s stock.
A number of research firms recently commented on AAOI. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Applied Optoelectronics in a report on Thursday. Craig Hallum reiterated a “buy” rating and issued a $80.00 price objective (down previously from $95.00) on shares of Applied Optoelectronics in a report on Tuesday, October 3rd. BWS Financial reiterated a “sell” rating on shares of Applied Optoelectronics in a report on Monday, October 2nd. Zacks Investment Research downgraded Applied Optoelectronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, ValuEngine downgraded Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $80.98.
Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.28. The company had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm’s revenue was up 112.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS.
In other news, insider Shu-Hua (Joshua) Yeh sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $92.51, for a total value of $1,850,200.00. Following the transaction, the insider now directly owns 89,742 shares of the company’s stock, valued at approximately $8,302,032.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stefan J. Murry sold 3,050 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.21, for a total value of $214,140.50. Following the completion of the transaction, the chief financial officer now directly owns 57,540 shares in the company, valued at $4,039,883.40. The disclosure for this sale can be found here. Insiders sold a total of 34,633 shares of company stock worth $2,818,825 over the last three months. 8.19% of the stock is owned by company insiders.
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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