Kennedy Capital Management Inc. cut its holdings in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 52.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,154 shares of the semiconductor company’s stock after selling 131,276 shares during the period. Kennedy Capital Management Inc. owned about 0.63% of Applied Optoelectronics worth $7,424,000 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 AAOI. Whale Rock Capital Management LLC grew its position in Applied Optoelectronics by 75.2% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,155,356 shares of the semiconductor company’s stock worth $64,873,000 after acquiring an additional 495,915 shares during the last quarter. State of Tennessee Treasury Department bought a new stake in Applied Optoelectronics during the 2nd quarter worth approximately $23,563,000. Morgan Stanley grew its position in Applied Optoelectronics by 245.9% during the 1st quarter. Morgan Stanley now owns 521,051 shares of the semiconductor company’s stock worth $29,257,000 after acquiring an additional 370,427 shares during the last quarter. Renaissance Technologies LLC grew its position in Applied Optoelectronics by 195.2% during the 1st quarter. Renaissance Technologies LLC now owns 514,000 shares of the semiconductor company’s stock worth $28,861,000 after acquiring an additional 339,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Applied Optoelectronics by 258.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 260,273 shares of the semiconductor company’s stock worth $14,614,000 after acquiring an additional 187,740 shares during the last quarter. Institutional investors and hedge funds own 81.70% of the company’s stock.

In other news, General Counsel David C. Kuo sold 1,116 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $94.87, for a total transaction of $105,874.92. Following the transaction, the general counsel now owns 25,041 shares in the company, valued at $2,375,639.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David C. Kuo sold 578 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $96.47, for a total transaction of $55,759.66. Following the transaction, the general counsel now owns 23,753 shares in the company, valued at approximately $2,291,451.91. The disclosure for this sale can be found here. Insiders have sold 37,633 shares of company stock worth $3,015,105 in the last ninety days. Insiders own 8.19% of the company’s stock.

A number of equities research analysts recently commented on the company. Cowen and Company restated an “outperform” rating and set a $102.00 price target (up from $100.00) on shares of Applied Optoelectronics in a research report on Wednesday, August 9th. Roth Capital reiterated a “buy” rating and issued a $90.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 10th. Vetr lowered Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 price objective on the stock. in a research report on Monday, August 7th. Northland Securities lowered Applied Optoelectronics from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $47.00 to $43.00 in a research report on Friday, August 4th. Finally, BWS Financial set a $25.00 price objective on Applied Optoelectronics and gave the company a “sell” rating in a research report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $76.98.

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Shares of Applied Optoelectronics, Inc. (NASDAQ AAOI) opened at 56.76 on Monday. The company’s 50-day moving average price is $72.53 and its 200 day moving average price is $61.81. The firm has a market cap of $1.10 billion, a P/E ratio of 13.49 and a beta of 3.06. Applied Optoelectronics, Inc. has a 52 week low of $18.70 and a 52 week high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last issued 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 for the quarter, compared to analysts’ expectations of $117.34 million. Applied Optoelectronics had a net margin of 21.92% and a return on equity of 31.31%. The business’s quarterly revenue was up 112.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, equities analysts anticipate that Applied Optoelectronics, Inc. will post $5.38 earnings per share for the current year.

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.

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

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