TIAA CREF Investment Management LLC Increases Stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI)
TIAA CREF Investment Management LLC raised its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 55.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,090 shares of the semiconductor company’s stock after buying an additional 26,104 shares during the period. TIAA CREF Investment Management LLC’s holdings in Applied Optoelectronics were worth $4,104,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in AAOI. Bourne Lent Asset Management Inc. acquired a new stake in Applied Optoelectronics during the first quarter valued at $399,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in Applied Optoelectronics during the first quarter valued at $213,000. Nationwide Fund Advisors boosted its stake in Applied Optoelectronics by 3.1% in the first quarter. Nationwide Fund Advisors now owns 10,566 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 315 shares during the last quarter. Telemus Capital LLC acquired a new stake in Applied Optoelectronics during the first quarter valued at $618,000. Finally, Sheets Smith Wealth Management acquired a new stake in Applied Optoelectronics during the first quarter valued at $536,000. Hedge funds and other institutional investors own 79.40% of the company’s stock.
Shares of Applied Optoelectronics, Inc. (AAOI) traded down 0.64% on Friday, reaching $64.10. The company had a trading volume of 1,952,311 shares. The company’s 50-day moving average is $78.28 and its 200-day moving average is $59.12. Applied Optoelectronics, Inc. has a one year low of $13.34 and a one year high of $103.41. The company has a market capitalization of $1.24 billion, a PE ratio of 15.23 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 earnings per share for the quarter, topping the 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 net margin of 21.92% and a return on equity of 31.31%. The firm’s revenue for the quarter was up 112.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. Equities research analysts predict that Applied Optoelectronics, Inc. will post $5.38 earnings per share for the current year.
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A number of research analysts have recently commented on AAOI shares. Northland Securities cut Applied Optoelectronics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $47.00 to $43.00 in a research note on Friday, August 4th. BidaskClub upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Raymond James Financial, Inc. reiterated a “strong-buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, July 25th. BWS Financial reiterated a “sell” rating and issued a $25.00 price target on shares of Applied Optoelectronics in a research note on Saturday, July 22nd. Finally, Needham & Company LLC increased their price target on Applied Optoelectronics from $100.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have given a buy rating and six have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $76.98.
In other news, Director William H. Yeh sold 30,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $72.12, for a total transaction of $2,163,600.00. Following the completion of the transaction, the director now directly owns 71,167 shares of the company’s stock, valued at $5,132,564.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stefan J. Murry sold 3,050 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.21, for a total transaction of $214,140.50. Following the transaction, the chief financial officer now directly owns 57,540 shares of the company’s stock, valued at $4,039,883.40. The disclosure for this sale can be found here. Insiders sold 78,140 shares of company stock valued at $5,894,795 over the last three months. 8.19% of the stock is currently 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.
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