Piedmont Investment Advisors LLC Invests $204,000 in Applied Optoelectronics Inc (AAOI)

Piedmont Investment Advisors LLC purchased a new stake in shares of Applied Optoelectronics Inc (NASDAQ:AAOI) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,548 shares of the semiconductor company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its position in Applied Optoelectronics by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 166,975 shares of the semiconductor company’s stock worth $6,314,000 after purchasing an additional 4,492 shares during the last quarter. Deutsche Bank AG grew its position in Applied Optoelectronics by 160.9% in the 4th quarter. Deutsche Bank AG now owns 46,220 shares of the semiconductor company’s stock worth $1,746,000 after purchasing an additional 28,503 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Applied Optoelectronics in the 4th quarter worth about $326,000. HL Financial Services LLC grew its position in Applied Optoelectronics by 10.0% in the 1st quarter. HL Financial Services LLC now owns 50,328 shares of the semiconductor company’s stock worth $1,261,000 after purchasing an additional 4,592 shares during the last quarter. Finally, Alps Advisors Inc. grew its position in Applied Optoelectronics by 116.9% in the 1st quarter. Alps Advisors Inc. now owns 16,292 shares of the semiconductor company’s stock worth $408,000 after purchasing an additional 8,779 shares during the last quarter. Hedge funds and other institutional investors own 67.56% of the company’s stock.

In related news, CFO Stefan J. Murry sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $44.25, for a total transaction of $132,750.00. Following the completion of the sale, the chief financial officer now directly owns 67,695 shares of the company’s stock, valued at $2,995,503.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.90% of the stock is owned by corporate insiders.

Several research firms have commented on AAOI. Piper Jaffray Companies restated a “hold” rating and issued a $43.00 target price on shares of Applied Optoelectronics in a research report on Wednesday. B. Riley increased their price objective on shares of Applied Optoelectronics from $30.50 to $34.50 and gave the company a “neutral” rating in a report on Wednesday. Loop Capital reiterated a “hold” rating and issued a $45.00 price objective on shares of Applied Optoelectronics in a report on Wednesday. Needham & Company LLC cut shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Applied Optoelectronics has an average rating of “Hold” and an average price target of $43.95.

Applied Optoelectronics stock opened at $40.10 on Friday. The company has a quick ratio of 2.14, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $728.93 million, a PE ratio of 15.07, a P/E/G ratio of 1.96 and a beta of 2.56. Applied Optoelectronics Inc has a 12-month low of $22.54 and a 12-month high of $71.45.

Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Tuesday, August 7th. The semiconductor company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.34 by $0.30. Applied Optoelectronics had a net margin of 10.95% and a return on equity of 14.87%. The business had revenue of $87.82 million during the quarter, compared to analyst estimates of $77.29 million. sell-side analysts anticipate that Applied Optoelectronics Inc will post 1.68 EPS for the current fiscal year.

About Applied Optoelectronics

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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Institutional Ownership by Quarter for Applied Optoelectronics (NASDAQ:AAOI)

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