Spark Investment Management LLC lowered its position in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 79.3% during the second quarter, Holdings Channel reports. The firm owned 16,500 shares of the semiconductor company’s stock after selling 63,200 shares during the period. Spark Investment Management LLC’s holdings in Applied Optoelectronics were worth $1,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AAOI. SG Americas Securities LLC acquired a new position in Applied Optoelectronics during the first quarter worth about $196,000. Capstone Asset Management Co. acquired a new position in Applied Optoelectronics during the second quarter worth about $203,000. 361 Capital LLC acquired a new position in Applied Optoelectronics during the first quarter worth about $208,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in Applied Optoelectronics during the first quarter worth about $213,000. Finally, State of Alaska Department of Revenue acquired a new position in Applied Optoelectronics during the second quarter worth about $215,000. Hedge funds and other institutional investors own 77.36% of the company’s stock.

Shares of Applied Optoelectronics, Inc. (NASDAQ AAOI) opened at 63.55 on Friday. Applied Optoelectronics, Inc. has a 12-month low of $13.06 and a 12-month high of $103.41. The firm has a market cap of $1.21 billion, a PE ratio of 15.10 and a beta of 2.98. The company has a 50 day moving average of $77.51 and a 200-day moving average of $57.62.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $1.43 EPS for the quarter, beating 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 previous year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 112.3% compared to the same quarter last year. Equities research analysts forecast that Applied Optoelectronics, Inc. will post $5.30 EPS for the current fiscal year.

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A number of research firms have recently issued reports on AAOI. Roth Capital restated a “buy” rating and issued a $90.00 price target on shares of Applied Optoelectronics in a research report on Thursday. Cowen and Company restated an “outperform” rating and issued a $102.00 price target (up from $100.00) on shares of Applied Optoelectronics in a research report on Wednesday. Vetr downgraded shares of Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $72.50 price target on the stock. in a research report on Monday. Northland Securities downgraded shares of Applied Optoelectronics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $47.00 to $43.00 in a research report on Friday, August 4th. Finally, ValuEngine downgraded shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, six have given a buy rating and six have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $76.98.

In other news, Director Chewei Lin sold 7,500 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $64.00, for a total value of $480,000.00. Following the sale, the director now owns 53,717 shares in the company, valued at approximately $3,437,888. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stefan J. Murry sold 3,168 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $63.51, for a total transaction of $201,199.68. Following the completion of the sale, the chief financial officer now owns 58,526 shares in the company, valued at approximately $3,716,986.26. The disclosure for this sale can be found here. Insiders sold a total of 84,758 shares of company stock worth $6,295,754 in the last 90 days. 8.19% of the stock is owned by corporate insiders.

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

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