Victory Capital Management Inc. decreased its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 43.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,344 shares of the semiconductor company’s stock after selling 23,261 shares during the period. Victory Capital Management Inc.’s holdings in Applied Optoelectronics were worth $1,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp increased its position in 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 in the last quarter. Bogle Investment Management L P DE acquired a new position in Applied Optoelectronics during the fourth quarter worth $5,991,000. Marshall Wace LLP acquired a new position in Applied Optoelectronics during the fourth quarter worth $5,432,000. Renaissance Technologies LLC acquired a new position in Applied Optoelectronics during the fourth quarter worth $4,081,000. Finally, Ameriprise Financial Inc. increased its position in 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 in the last quarter. Institutional investors and hedge funds own 81.43% of the company’s stock.

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

Applied Optoelectronics, Inc. (AAOI) opened at 62.88 on Friday. The company has a market cap of $1.19 billion, a P/E ratio of 22.16 and a beta of 2.82. The company has a 50-day moving average of $63.75 and a 200 day moving average of $43.96. Applied Optoelectronics, Inc. has a one year low of $9.07 and a one year high of $75.59.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. The firm had revenue of $96.20 million during the quarter, compared to analysts’ expectations of $96.20 million. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. The company’s revenue for the quarter was up 90.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) earnings per share. Equities research analysts predict that Applied Optoelectronics, Inc. will post $4.71 EPS for the current year.

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A number of research analysts have recently weighed in on AAOI shares. Cowen and Company raised their price target on shares of Applied Optoelectronics from $75.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Vetr upgraded shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating and set a $74.42 price target on the stock in a report on Monday, June 12th. Needham & Company LLC started coverage on shares of Applied Optoelectronics in a report on Monday, May 22nd. They set a “strong-buy” rating and a $85.00 price target on the stock. Vertical Research restated a “sell” rating on shares of Applied Optoelectronics in a report on Thursday, March 30th. Finally, ValuEngine upgraded shares of Applied Optoelectronics from a “hold” rating to a “buy” rating in a report on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.80.

In other Applied Optoelectronics news, Director William H. Yeh sold 30,000 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $72.12, for a total value of $2,163,600.00. Following the completion of the sale, the director now owns 71,167 shares in the company, valued at $5,132,564.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Chewei Lin sold 22,500 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $65.00, for a total transaction of $1,462,500.00. Following the completion of the sale, the director now owns 74,017 shares of the company’s stock, valued at approximately $4,811,105. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,048 shares of company stock valued at $7,097,546. Corporate insiders own 8.19% of the company’s stock.

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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