Analysts Anticipate Applied Optoelectronics Inc (AAOI) Will Post Quarterly Sales of $86.22 Million
Equities analysts expect that Applied Optoelectronics Inc (NASDAQ:AAOI) will announce $86.22 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Applied Optoelectronics’ earnings. The lowest sales estimate is $84.60 million and the highest is $90.00 million. Applied Optoelectronics reported sales of $84.90 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.6%. The company is expected to announce its next earnings report after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Applied Optoelectronics will report full-year sales of $86.22 million for the current financial year, with estimates ranging from $386.00 million to $394.90 million. For the next financial year, analysts forecast that the firm will post sales of $392.40 million per share, with estimates ranging from $351.93 million to $458.40 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Applied Optoelectronics.
AAOI has been the subject of several research analyst reports. DA Davidson reiterated a “buy” rating and set a $69.00 target price on shares of Applied Optoelectronics in a research report on Wednesday, November 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $51.00 target price on shares of Applied Optoelectronics in a research report on Friday, November 10th. Cowen reiterated a “buy” rating and set a $60.00 target price (down previously from $74.00) on shares of Applied Optoelectronics in a research report on Thursday, December 7th. ValuEngine cut Applied Optoelectronics from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, TheStreet cut Applied Optoelectronics from a “b-” rating to a “c” rating in a research report on Wednesday, November 15th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.89.
In other Applied Optoelectronics news, CEO Chih-Hsiang (Thompson) Lin sold 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $45.30, for a total transaction of $58,890.00. Following the completion of the transaction, the chief executive officer now owns 522,837 shares in the company, valued at approximately $23,684,516.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $35.37, for a total value of $35,370.00. Following the transaction, the director now owns 34,478 shares of the company’s stock, valued at approximately $1,219,486.86. The disclosure for this sale can be found here. Insiders have sold a total of 6,900 shares of company stock valued at $297,554 in the last 90 days. 8.19% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAOI. BlackRock Inc. grew its holdings in Applied Optoelectronics by 86.8% during the 2nd quarter. BlackRock Inc. now owns 2,093,297 shares of the semiconductor company’s stock valued at $129,346,000 after buying an additional 972,428 shares in the last quarter. FMR LLC purchased a new position in Applied Optoelectronics during the 2nd quarter valued at approximately $45,101,000. State of Tennessee Treasury Department grew its holdings in Applied Optoelectronics by 113.9% during the 3rd quarter. State of Tennessee Treasury Department now owns 815,552 shares of the semiconductor company’s stock valued at $52,742,000 after buying an additional 434,207 shares in the last quarter. Vanguard Group Inc. grew its holdings in Applied Optoelectronics by 49.8% during the 2nd quarter. Vanguard Group Inc. now owns 953,505 shares of the semiconductor company’s stock valued at $58,917,000 after buying an additional 317,033 shares in the last quarter. Finally, TT International purchased a new position in Applied Optoelectronics during the 3rd quarter valued at approximately $19,089,000. Institutional investors and hedge funds own 75.68% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Analysts Anticipate Applied Optoelectronics Inc (AAOI) Will Post Quarterly Sales of $86.22 Million” was posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.watchlistnews.com/analysts-anticipate-applied-optoelectronics-inc-aaoi-will-post-quarterly-sales-of-86-22-million/1858979.html.
Applied Optoelectronics Company Profile
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Applied Optoelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Optoelectronics and related companies with MarketBeat.com's FREE daily email newsletter.