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Principal Financial Group Inc. Makes New Investment in Applied Optoelectronics, Inc. $AAOI
Principal Financial Group Inc. has acquired a new stake of 49,342 shares in Applied Optoelectronics (NASDAQ: AAOI) during the third quarter, valued at approximately $1.28 million, representing 0.08% of the company. This investment comes amidst recent insider selling and a “Hold” consensus rating from analysts, with a target price of $35.60. The semiconductor company’s stock has shown significant volatility, trading with a market cap of $3.00 billion and a negative P/E ratio.