Short Interest in Applied Optoelectronics, Inc. (AAOI) Rises By 22.5%
Applied Optoelectronics, Inc. (NASDAQ:AAOI) saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 10,675,524 shares, an increase of 22.5% from the July 31st total of 8,713,039 shares. Based on an average trading volume of 5,996,263 shares, the short-interest ratio is currently 1.8 days. Approximately 59.6% of the company’s stock are sold short.
Several equities research analysts have recently commented on the stock. Vetr raised shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating and set a $76.81 target price for the company in a research report on Wednesday, August 9th. Roth Capital reaffirmed a “buy” rating and issued a $70.00 price objective (up from $60.00) on shares of Applied Optoelectronics in a research report on Friday, May 5th. BidaskClub downgraded shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Cowen and Company upped their price objective on shares of Applied Optoelectronics from $75.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, Needham & Company LLC upped their price objective on shares of Applied Optoelectronics from $85.00 to $100.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, seven have issued a buy rating and five have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $76.98.
Shares of Applied Optoelectronics (NASDAQ:AAOI) opened at 62.30 on Friday. Applied Optoelectronics has a 12 month low of $15.93 and a 12 month high of $103.41. The company has a market capitalization of $1.20 billion, a P/E ratio of 14.80 and a beta of 2.98. The firm has a 50-day moving average of $77.90 and a 200-day moving average of $60.21.
Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The company had revenue of $117.40 million for the quarter, compared to the consensus estimate of $117.34 million. During the same quarter in the prior year, the company earned $0.16 EPS. Applied Optoelectronics’s quarterly revenue was up 112.3% on a year-over-year basis. On average, equities analysts predict that Applied Optoelectronics will post $5.38 earnings per share for the current year.
In other news, Director William H. Yeh sold 30,000 shares of the business’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 sale, the director now directly owns 71,167 shares of the company’s stock, valued at $5,132,564.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stefan J. Murry sold 3,050 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $70.21, for a total transaction of $214,140.50. Following the sale, 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. Over the last three months, insiders have sold 67,633 shares of company stock valued at $5,178,705. 8.19% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of AAOI. Flinton Capital Management LLC acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $115,000. Citigroup Inc. increased its position in shares of Applied Optoelectronics by 96.2% in the second quarter. Citigroup Inc. now owns 2,025 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 993 shares during the period. Advisory Services Network LLC acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $137,000. Pinebridge Investments L.P. acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $144,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Applied Optoelectronics during the second quarter valued at $149,000. Institutional investors own 79.40% of the company’s stock.
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Applied Optoelectronics Company Profile
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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