Jupiter Topco takes new $4.87M stake in Applied Optoelectronics
What's the deal? Jupiter Topco LLCDealroom has a profile for this one. Try Dealroom → bought a new position in Applied Optoelectronics (NASDAQ: AAOI), acquiring 32,919 shares worth roughly $4,874,000 in the second quarter, according to a filing with the Securities and Exchange Commission.
Who else is buying? Several other investors adjusted their holdings recently. Allworth FinancialDealroom has a profile for this one. Try Dealroom → lifted its stake by 1,923.7% to 769 shares, while Northwestern Mutual Wealth ManagementDealroom has a profile for this one. Try Dealroom → raised its holdings by 166.7% to 1,200 shares. Comerica BankDealroom has a profile for this one. Try Dealroom →, EFG InternationalDealroom has a profile for this one. Try Dealroom →, and Persistent Asset PartnersDealroom has a profile for this one. Try Dealroom → all opened new positions valued between $28,000 and $47,000.
By the numbers: Institutional investors and hedge funds now own 61.70% of the stock. Corporate insiders hold 3.80%.
Insider moves: On June 12, chief financial officer Stefan J. Murry sold 33,000 shares at an average of $166.53, for $5,495,490, cutting his stake by 7.90%. The same day, chief executive officer Chih-Hsiang Lin sold 59,000 shares at the same price, for $9,825,270, a 4.33% reduction. Both sales covered tax withholding tied to vesting equity awards.
Insiders sold a total of 264,382 shares worth $44,224,007 over the past 90 days.
What analysts say: The stock carries a consensus "Hold" rating and a $139.40 price target, per MarketBeat. Three analysts rate it Buy, two Hold, and one Sell. Rosenblatt Securities reaffirmed a "buy" rating with a $220.00 target, while NeedhamDealroom has a profile for this one. Try Dealroom → cut its target from $220.00 to $190.00, keeping a "buy."
The signal: The semiconductor company continues to draw fresh institutional money even as executives trim their positions and analysts remain split on where the shares are headed.
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