Applied Optoelectronics (NASDAQ:AAOI) Releases Q2 2022 Earnings Guidance

Applied Optoelectronics (NASDAQ:AAOIGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of -$0.34–$0.30 for the period, compared to the consensus estimate of -$0.25. The company issued revenue guidance of $56.00 million-$59.00 million, compared to the consensus revenue estimate of $55.46 million.

A number of equities analysts have issued reports on AAOI shares. Zacks Investment Research upgraded Applied Optoelectronics from a hold rating to a buy rating and set a $2.50 price target on the stock in a report on Monday. B. Riley cut their price target on Applied Optoelectronics from $4.70 to $3.20 in a report on Friday, May 6th. Rosenblatt Securities cut their price target on Applied Optoelectronics from $8.00 to $6.00 and set a neutral rating on the stock in a report on Friday, February 25th. StockNews.com upgraded Applied Optoelectronics from a sell rating to a hold rating in a report on Thursday, March 24th. Finally, Craig Hallum cut Applied Optoelectronics from a hold rating to a sell rating and cut their price target for the stock from $7.00 to $2.50 in a report on Friday, February 25th.

Shares of AAOI traded up $0.11 during trading hours on Tuesday, reaching $2.44. The stock had a trading volume of 469 shares, compared to its average volume of 273,210. Applied Optoelectronics has a 12 month low of $2.01 and a 12 month high of $9.25. The firm has a 50-day simple moving average of $3.01 and a 200 day simple moving average of $4.29. The company has a current ratio of 1.66, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $67.42 million, a price-to-earnings ratio of -1.16 and a beta of 1.74.

Applied Optoelectronics (NASDAQ:AAOIGet Rating) last issued its earnings results on Thursday, May 5th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Applied Optoelectronics had a negative return on equity of 12.75% and a negative net margin of 25.50%. During the same period in the previous year, the company posted ($0.30) EPS. On average, equities analysts forecast that Applied Optoelectronics will post -1.3 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC purchased a new stake in Applied Optoelectronics in the 4th quarter valued at $64,000. XTX Topco Ltd purchased a new stake in Applied Optoelectronics in the 1st quarter valued at $73,000. BNP Paribas Arbitrage SA raised its position in Applied Optoelectronics by 94.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 21,432 shares of the semiconductor company’s stock valued at $154,000 after buying an additional 10,431 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in Applied Optoelectronics by 14.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 41,200 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 5,200 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Applied Optoelectronics in the 4th quarter valued at $278,000. Institutional investors own 45.88% of the company’s stock.

About Applied Optoelectronics (Get Rating)

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, subassemblies, 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 telecom equipment manufacturers, and internet service providers through its direct and indirect sales channels.

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