Bank of New York Mellon Corp Has $14.24 Million Holdings in Applied Optoelectronics Inc (AAOI)

Bank of New York Mellon Corp reduced its position in shares of Applied Optoelectronics Inc (NASDAQ:AAOI) by 0.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 317,153 shares of the semiconductor company’s stock after selling 2,972 shares during the quarter. Bank of New York Mellon Corp’s holdings in Applied Optoelectronics were worth $14,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rhumbline Advisers raised its position in Applied Optoelectronics by 3.2% during the second quarter. Rhumbline Advisers now owns 45,887 shares of the semiconductor company’s stock worth $2,060,000 after acquiring an additional 1,418 shares in the last quarter. Bank of America Corp DE raised its position in Applied Optoelectronics by 4.5% during the second quarter. Bank of America Corp DE now owns 39,021 shares of the semiconductor company’s stock worth $1,752,000 after acquiring an additional 1,669 shares in the last quarter. Globeflex Capital L P raised its position in Applied Optoelectronics by 15.0% during the second quarter. Globeflex Capital L P now owns 13,000 shares of the semiconductor company’s stock worth $584,000 after acquiring an additional 1,700 shares in the last quarter. Legal & General Group Plc raised its position in Applied Optoelectronics by 6.7% during the second quarter. Legal & General Group Plc now owns 38,522 shares of the semiconductor company’s stock worth $1,698,000 after acquiring an additional 2,403 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Applied Optoelectronics by 6.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 50,685 shares of the semiconductor company’s stock worth $2,276,000 after acquiring an additional 3,069 shares in the last quarter. 68.60% of the stock is currently owned by hedge funds and other institutional investors.

AAOI stock opened at $20.02 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.30 and a current ratio of 2.60. Applied Optoelectronics Inc has a 52 week low of $17.95 and a 52 week high of $50.30. The stock has a market capitalization of $418.94 million, a P/E ratio of 4.73, a price-to-earnings-growth ratio of 2.66 and a beta of 2.58.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Wednesday, November 7th. The semiconductor company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.25. Applied Optoelectronics had a net margin of 4.20% and a return on equity of 8.73%. The business had revenue of $56.40 million for the quarter, compared to the consensus estimate of $56.55 million. During the same period in the prior year, the company posted $1.08 earnings per share. Applied Optoelectronics’s revenue was down 36.6% compared to the same quarter last year. On average, analysts predict that Applied Optoelectronics Inc will post 0.53 EPS for the current year.

Several research firms have issued reports on AAOI. ValuEngine raised shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. Cowen dropped their price target on shares of Applied Optoelectronics from $53.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, November 8th. DA Davidson upped their price objective on shares of Applied Optoelectronics to $42.00 and gave the company a “buy” rating in a report on Thursday, November 8th. Zacks Investment Research downgraded shares of Applied Optoelectronics from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, B. Riley decreased their price objective on shares of Applied Optoelectronics from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, November 5th. Six investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Applied Optoelectronics has a consensus rating of “Hold” and a consensus target price of $25.11.

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Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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

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