Applied Optoelectronics (NASDAQ:AAOI) Issues Q2 2024 Earnings Guidance

Applied Optoelectronics (NASDAQ:AAOI) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of -0.340–0.290 for the period, compared to the consensus EPS estimate of -0.120. The company issued revenue guidance of $41.5 million-$46.5 million, compared to the consensus revenue estimate of $57.2 million. Applied Optoelectronics also updated its Q2 guidance to ($0.29)-($0.34) EPS.

Analysts Set New Price Targets

Several research firms have issued reports on AAOI. StockNews.com upgraded shares of Applied Optoelectronics from a sell rating to a hold rating in a research note on Thursday, May 2nd. B. Riley reaffirmed a neutral rating and set a $16.00 target price (down from $22.00) on shares of Applied Optoelectronics in a research note on Friday, February 23rd. TheStreet raised shares of Applied Optoelectronics from a d rating to a c- rating in a report on Friday, February 23rd. Finally, Rosenblatt Securities lowered their target price on shares of Applied Optoelectronics from $23.00 to $20.00 and set a buy rating for the company in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $16.88.

Applied Optoelectronics Stock Down 2.7 %

NASDAQ AAOI traded down $0.29 on Thursday, reaching $10.54. The stock had a trading volume of 3,169,843 shares, compared to its average volume of 2,715,392. The business has a 50 day moving average price of $12.81 and a 200 day moving average price of $15.10. Applied Optoelectronics has a 1 year low of $1.64 and a 1 year high of $24.75. The company has a current ratio of 1.85, a quick ratio of 1.16 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $408.21 million, a price-to-earnings ratio of -5.92 and a beta of 2.12.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $60.50 million during the quarter, compared to the consensus estimate of $65.19 million. Applied Optoelectronics had a negative return on equity of 13.83% and a negative net margin of 25.75%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.27) EPS. On average, analysts forecast that Applied Optoelectronics will post -0.2 EPS for the current fiscal year.

Insider Transactions at Applied Optoelectronics

In related news, CEO Chih-Hsiang (Thompson) Lin bought 11,780 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $12.66 per share, with a total value of $149,134.80. Following the purchase, the chief executive officer now owns 1,218,160 shares of the company’s stock, valued at approximately $15,421,905.60. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Chih-Hsiang (Thompson) Lin bought 11,780 shares of Applied Optoelectronics stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average cost of $12.66 per share, with a total value of $149,134.80. Following the acquisition, the chief executive officer now owns 1,218,160 shares of the company’s stock, valued at approximately $15,421,905.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Che-Wei Lin purchased 31,370 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average price of $12.70 per share, with a total value of $398,399.00. Following the completion of the transaction, the director now owns 220,133 shares of the company’s stock, valued at $2,795,689.10. The disclosure for this purchase can be found here. 6.10% of the stock is currently owned by insiders.

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.