Hood River Capital Management LLC decreased its stake in shares of Applied Optoelectronics Inc. (NASDAQ:AAOI) by 20.3% during the second quarter, Holdings Channel reports. The firm owned 360,865 shares of the company’s stock after selling 91,864 shares during the period. Hood River Capital Management LLC’s holdings in Applied Optoelectronics were worth $4,024,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in Applied Optoelectronics by 1.8% in the first quarter. Geode Capital Management LLC now owns 102,242 shares of the company’s stock valued at $1,524,000 after buying an additional 1,854 shares during the period. Royce & Associates LP boosted its position in Applied Optoelectronics by 14.3% in the first quarter. Royce & Associates LP now owns 20,000 shares of the company’s stock valued at $298,000 after buying an additional 2,500 shares during the period. Blue Rock Advisors LLC acquired a new position in Applied Optoelectronics during the first quarter valued at about $164,000. Bank of Montreal Can acquired a new position in Applied Optoelectronics during the second quarter valued at about $172,000. Finally, State Street Corp boosted its position in Applied Optoelectronics by 8.3% in the first quarter. State Street Corp now owns 240,937 shares of the company’s stock valued at $3,589,000 after buying an additional 18,399 shares during the period. 78.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Applied Optoelectronics Inc. (NASDAQ:AAOI) traded down 1.43% during midday trading on Friday, reaching $22.72. The company had a trading volume of 162,970 shares. Applied Optoelectronics Inc. has a 1-year low of $8.08 and a 1-year high of $24.18. The stock has a market capitalization of $389.42 million, a price-to-earnings ratio of 83.84 and a beta of 2.29. The firm’s 50 day moving average price is $19.20 and its 200-day moving average price is $13.78.
Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.10. The business earned $55.30 million during the quarter, compared to analyst estimates of $50.84 million. Applied Optoelectronics had a return on equity of 6.01% and a net margin of 2.16%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. Equities research analysts expect that Applied Optoelectronics Inc. will post $0.71 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Piper Jaffray Cos. reissued an “overweight” rating and set a $27.00 target price (up from $24.00) on shares of Applied Optoelectronics in a research note on Friday. Roth Capital reissued a “buy” rating on shares of Applied Optoelectronics in a research note on Tuesday, August 2nd. Zacks Investment Research raised Applied Optoelectronics from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Thursday, September 8th. TheStreet raised Applied Optoelectronics from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Craig Hallum boosted their target price on Applied Optoelectronics from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Seven research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $24.00.
In other news, CFO Stefan J. Murry sold 3,660 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $19.05, for a total value of $69,723.00. Following the completion of the sale, the chief financial officer now directly owns 35,093 shares of the company’s stock, valued at approximately $668,521.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.19% of the stock is owned by insiders.
Applied Optoelectronics Company Profile
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products. The Company offers its products for approximately three networking end markets, such as Internet data center; cable television (CATV), and fiber-to-the-home (FTTH). 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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