Bank of New York Mellon Corp Buys 25,482 Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Bank of New York Mellon Corp raised its stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,131 shares of the semiconductor company's stock after acquiring an additional 25,482 shares during the period. Bank of New York Mellon Corp owned 0.27% of Applied Optoelectronics worth $4,612,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. bought a new stake in Applied Optoelectronics in the third quarter valued at $186,000. Charles Schwab Investment Management Inc. lifted its position in Applied Optoelectronics by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,814 shares of the semiconductor company's stock valued at $1,557,000 after purchasing an additional 3,081 shares during the last quarter. Citigroup Inc. boosted its stake in Applied Optoelectronics by 4.9% during the 3rd quarter. Citigroup Inc. now owns 345,612 shares of the semiconductor company's stock valued at $4,946,000 after purchasing an additional 16,017 shares during the period. Westfield Capital Management Co. LP acquired a new position in Applied Optoelectronics during the 3rd quarter valued at about $19,019,000. Finally, Truvestments Capital LLC grew its position in Applied Optoelectronics by 24.3% in the 3rd quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company's stock worth $227,000 after purchasing an additional 3,097 shares during the last quarter. 61.72% of the stock is owned by institutional investors.

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Insider Buying and Selling at Applied Optoelectronics

In other news, CFO Stefan J. Murry sold 2,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.06, for a total transaction of $46,120.00. Following the completion of the transaction, the chief financial officer now directly owns 196,581 shares in the company, valued at $4,533,157.86. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard B. Black sold 10,000 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the director now owns 157,813 shares of the company's stock, valued at approximately $4,576,577. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,298 shares of company stock worth $543,821 over the last 90 days. Insiders own 5.40% of the company's stock.

Applied Optoelectronics Stock Down 3.2 %

NASDAQ:AAOI traded down $0.67 during mid-day trading on Friday, reaching $20.42. The stock had a trading volume of 2,176,119 shares, compared to its average volume of 2,904,049. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market cap of $1.02 billion, a P/E ratio of -9.91 and a beta of 2.36. Applied Optoelectronics, Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $44.50. The business's 50 day moving average is $25.19 and its 200 day moving average is $24.89.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The company had revenue of $100.27 million during the quarter, compared to analyst estimates of $99.92 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. As a group, sell-side analysts predict that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on AAOI shares. Northland Securities reaffirmed an "outperform" rating and set a $40.00 target price (up previously from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Rosenblatt Securities reiterated a "buy" rating and issued a $36.00 target price on shares of Applied Optoelectronics in a research report on Friday, March 14th. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a research report on Wednesday, February 26th. B. Riley upgraded shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price objective for the company in a report on Friday, March 7th. Finally, Raymond James boosted their target price on Applied Optoelectronics to $31.00 and gave the stock a "buy" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $25.80.

About Applied Optoelectronics

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.