Bank of America Corp DE Has $12.52 Million Stock Position in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Bank of America Corp DE boosted its position in Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 1,058.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 339,550 shares of the semiconductor company's stock after purchasing an additional 310,243 shares during the period. Bank of America Corp DE owned about 0.72% of Applied Optoelectronics worth $12,516,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in Applied Optoelectronics during the fourth quarter worth approximately $38,000. Sterling Capital Management LLC lifted its position in Applied Optoelectronics by 858.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 1,150 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Applied Optoelectronics during the fourth quarter worth approximately $63,000. Summit Investment Advisors Inc. lifted its position in Applied Optoelectronics by 17.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,262 shares of the semiconductor company's stock worth $157,000 after acquiring an additional 637 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Applied Optoelectronics during the fourth quarter worth approximately $229,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 11,426 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.10, for a total transaction of $218,236.60. Following the completion of the transaction, the insider now directly owns 153,900 shares in the company, valued at $2,939,490. The trade was a 6.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chih-Hsiang (Thompson) Lin acquired 21,200 shares of the stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $18.22 per share, with a total value of $386,264.00. Following the completion of the transaction, the chief executive officer now owns 1,659,025 shares of the company's stock, valued at approximately $30,227,435.50. This represents a 1.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 39,263 shares of company stock worth $740,590. Company insiders own 4.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AAOI shares. Rosenblatt Securities raised their price objective on shares of Applied Optoelectronics to $30.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen downgraded shares of Applied Optoelectronics from a "hold" rating to a "sell" rating in a research report on Thursday. Raymond James cut their price objective on shares of Applied Optoelectronics from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, 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 research report on Friday, March 7th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $22.00.

Applied Optoelectronics Trading Up 3.2%

Shares of AAOI stock opened at $17.61 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The stock has a market cap of $977.60 million, a P/E ratio of -8.55 and a beta of 2.55. The stock has a 50 day simple moving average of $15.09 and a 200 day simple moving average of $24.66. Applied Optoelectronics, Inc. has a 1 year low of $6.70 and a 1 year high of $44.50.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The business had revenue of $99.86 million during the quarter, compared to analysts' expectations of $99.37 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. The firm's revenue for the quarter was up 145.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) earnings per share. On average, research analysts predict that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal 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.

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