Bank of New York Mellon Corp Invests $956,000 in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Bank of New York Mellon Corp bought a new stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 115,273 shares of the semiconductor company’s stock, valued at approximately $956,000. Bank of New York Mellon Corp owned approximately 0.30% of Applied Optoelectronics at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co purchased a new position in Applied Optoelectronics in the 1st quarter worth approximately $46,000. Truvestments Capital LLC purchased a new position in shares of Applied Optoelectronics in the first quarter valued at $161,000. Alpha DNA Investment Management LLC acquired a new stake in Applied Optoelectronics during the 4th quarter valued at $409,000. GSA Capital Partners LLP increased its stake in Applied Optoelectronics by 34.6% during the 1st quarter. GSA Capital Partners LLP now owns 87,844 shares of the semiconductor company’s stock worth $1,218,000 after buying an additional 22,592 shares during the period. Finally, Trexquant Investment LP lifted its holdings in Applied Optoelectronics by 16.2% in the 4th quarter. Trexquant Investment LP now owns 165,070 shares of the semiconductor company’s stock worth $3,189,000 after buying an additional 22,977 shares in the last quarter. 61.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AAOI. B. Riley Financial restated a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Raymond James upgraded Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a research note on Tuesday, September 3rd. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research report on Friday, August 9th. B. Riley decreased their price target on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Rosenblatt Securities upped their price target on shares of Applied Optoelectronics from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.75.

Applied Optoelectronics Trading Down 2.6 %

NASDAQ:AAOI opened at $13.83 on Friday. The company has a market cap of $538.10 million, a PE ratio of -7.60 and a beta of 1.96. The business’s 50 day moving average is $10.20 and its two-hundred day moving average is $10.94. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. Applied Optoelectronics, Inc. has a 52 week low of $6.66 and a 52 week high of $24.75.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. The firm had revenue of $43.27 million during the quarter, compared to the consensus estimate of $44.14 million. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.31) earnings per share. On average, analysts predict that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

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.