American International Group Inc. increased its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 7.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,158 shares of the semiconductor company’s stock after buying an additional 673 shares during the period. American International Group Inc.’s holdings in Applied Optoelectronics were worth $570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Two Sigma Investments LP acquired a new position in Applied Optoelectronics during the fourth quarter worth approximately $264,000. Ameriprise Financial Inc. raised its stake in shares of Applied Optoelectronics by 21.8% in the first quarter. Ameriprise Financial Inc. now owns 115,735 shares of the semiconductor company’s stock worth $6,498,000 after buying an additional 20,695 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $2,293,000. State Street Corp raised its stake in shares of Applied Optoelectronics by 5.9% in the fourth quarter. State Street Corp now owns 262,066 shares of the semiconductor company’s stock worth $6,143,000 after buying an additional 14,484 shares during the last quarter. Finally, Suntrust Banks Inc. purchased a new stake in shares of Applied Optoelectronics during the first quarter worth about $411,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Shares of Applied Optoelectronics, Inc. (AAOI) traded down 34.07% on Friday, hitting $64.60. 16,999,028 shares of the stock were exchanged. The firm’s 50-day moving average is $74.92 and its 200-day moving average is $55.92. Applied Optoelectronics, Inc. has a one year low of $11.67 and a one year high of $103.41. The company has a market cap of $1.23 billion, a P/E ratio of 22.76 and a beta of 2.98.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.28. The business had revenue of $117.40 million during the quarter, compared to the consensus estimate of $117.34 million. Applied Optoelectronics had a return on equity of 23.75% and a net margin of 17.08%. Applied Optoelectronics’s revenue for the quarter was up 112.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. On average, equities analysts forecast that Applied Optoelectronics, Inc. will post $5.01 EPS for the current fiscal year.

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Several equities analysts recently commented on the company. Northland Securities lowered Applied Optoelectronics from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $47.00 to $43.00 in a report on Friday. BidaskClub downgraded shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Needham & Company LLC upped their price objective on shares of Applied Optoelectronics from $100.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Monday, July 24th. ValuEngine downgraded shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Cowen and Company reiterated an “outperform” rating and set a $100.00 target price (up previously from $94.00) on shares of Applied Optoelectronics in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $76.87.

In other Applied Optoelectronics news, General Counsel David C. Kuo sold 578 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $96.47, for a total transaction 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 $2,291,451.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel David C. Kuo sold 1,116 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $94.87, for a total value of $105,874.92. Following the completion of the transaction, the general counsel now directly owns 25,041 shares of the company’s stock, valued at approximately $2,375,639.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,742 shares of company stock valued at $9,725,420. 8.19% of the stock is owned by 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.

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

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