Bank of New York Mellon Corp Grows Holdings in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Bank of New York Mellon Corp raised its holdings in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) by 25.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,131 shares of the semiconductor company’s stock after purchasing an additional 25,482 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of Applied Optoelectronics worth $4,612,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AAOI. Westfield Capital Management Co. LP bought a new stake in Applied Optoelectronics during the 3rd quarter valued at about $19,019,000. Whale Rock Capital Management LLC purchased a new position in shares of Applied Optoelectronics during the third quarter worth approximately $16,145,000. Geode Capital Management LLC increased its position in shares of Applied Optoelectronics by 7.1% during the third quarter. Geode Capital Management LLC now owns 909,559 shares of the semiconductor company’s stock worth $13,018,000 after acquiring an additional 60,241 shares during the period. State Street Corp raised its stake in shares of Applied Optoelectronics by 27.7% during the third quarter. State Street Corp now owns 887,259 shares of the semiconductor company’s stock valued at $12,697,000 after acquiring an additional 192,308 shares in the last quarter. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in shares of Applied Optoelectronics in the fourth quarter valued at approximately $27,645,000. 61.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAOI. Rosenblatt Securities reaffirmed a “buy” rating and set a $36.00 target price on shares of Applied Optoelectronics in a research report on Friday. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research note on Wednesday, February 26th. B. Riley upgraded shares of Applied Optoelectronics from a “sell” rating to a “neutral” rating and set a $13.00 target price on the stock in a report on Friday, March 7th. Raymond James boosted their price target on shares of Applied Optoelectronics to $31.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Applied Optoelectronics presently has a consensus rating of “Hold” and a consensus price target of $25.80.

Applied Optoelectronics Stock Performance

Shares of Applied Optoelectronics stock opened at $20.98 on Tuesday. Applied Optoelectronics, Inc. has a one year low of $6.70 and a one year high of $44.50. The company has a market capitalization of $1.05 billion, a PE ratio of -10.18 and a beta of 2.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The company has a 50-day simple moving average of $25.90 and a two-hundred day simple moving average of $24.88.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. The firm had revenue of $100.27 million for the quarter, compared to the consensus estimate of $99.92 million. Research analysts expect that Applied Optoelectronics, Inc. will post -1.18 EPS for the current fiscal year.

Insider Activity

In related news, CFO Stefan J. Murry sold 2,298 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total value of $80,820.66. Following the completion of the transaction, the chief financial officer now directly owns 209,831 shares of the company’s stock, valued at $7,379,756.27. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the sale, the director now owns 157,813 shares of the company’s stock, valued at $4,576,577. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,298 shares of company stock worth $497,701. Insiders own 5.40% of the company’s stock.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers.