Voya Investment Management LLC Reduces Holdings in Applied Optoelectronics Inc (NASDAQ:AAOI)

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Voya Investment Management LLC lessened its position in shares of Applied Optoelectronics Inc (NASDAQ:AAOI) by 56.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,684 shares of the semiconductor company’s stock after selling 10,061 shares during the quarter. Voya Investment Management LLC’s holdings in Applied Optoelectronics were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AAOI. Financial Gravity Wealth Inc. acquired a new position in shares of Applied Optoelectronics during the first quarter valued at approximately $143,000. Pinebridge Investments L.P. purchased a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $166,000. PNC Financial Services Group Inc. grew its position in shares of Applied Optoelectronics by 29.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the semiconductor company’s stock valued at $195,000 after purchasing an additional 1,744 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $202,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $204,000. Institutional investors and hedge funds own 71.64% of the company’s stock.

A number of equities research analysts have recently issued reports on AAOI shares. B. Riley dropped their price target on Applied Optoelectronics from $34.50 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 8th. ValuEngine upgraded Applied Optoelectronics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 3rd. Loop Capital lowered Applied Optoelectronics from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $45.00 to $20.00 in a research report on Thursday, September 27th. DA Davidson reiterated a “buy” rating and issued a $36.00 price objective on shares of Applied Optoelectronics in a research report on Monday, October 1st. Finally, Needham & Company LLC lowered Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.11.

NASDAQ:AAOI traded down $0.04 during trading hours on Friday, reaching $21.66. 2,005,990 shares of the stock were exchanged, compared to its average volume of 1,070,229. The company has a quick ratio of 1.92, a current ratio of 3.22 and a debt-to-equity ratio of 0.17. Applied Optoelectronics Inc has a twelve month low of $17.95 and a twelve month high of $50.30. The stock has a market capitalization of $381.75 million, a price-to-earnings ratio of 5.12, a price-to-earnings-growth ratio of 1.73 and a beta of 2.56.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Wednesday, November 7th. The semiconductor company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.25. The company had revenue of $56.40 million for the quarter, compared to analysts’ expectations of $56.55 million. Applied Optoelectronics had a return on equity of 8.70% and a net margin of 4.20%. The firm’s revenue was down 36.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. On average, sell-side analysts expect that Applied Optoelectronics Inc will post 0.75 EPS for the current fiscal year.

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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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