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

Applied Optoelectronics (NASDAQ:AAOI) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of -0.340–0.290 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

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

Applied Optoelectronics Stock Performance

AAOI stock traded down $0.29 on Thursday, hitting $10.54. The company had a trading volume of 3,169,843 shares, compared to its average volume of 2,715,392. The company has a current ratio of 1.85, a quick ratio of 1.16 and a debt-to-equity ratio of 0.38. Applied Optoelectronics has a 12-month low of $1.64 and a 12-month high of $24.75. The stock has a market cap of $408.21 million, a price-to-earnings ratio of -5.92 and a beta of 2.12. The stock’s 50-day simple moving average is $12.70 and its 200 day simple moving average is $15.06.

Applied Optoelectronics (NASDAQ:AAOI) last posted its earnings results on Thursday, February 22nd. The semiconductor company reported $0.04 earnings per share for the quarter. Applied Optoelectronics had a negative return on equity of 13.83% and a negative net margin of 25.75%. The company had revenue of $60.50 million for the quarter, compared to the consensus estimate of $65.19 million. During the same quarter in the prior year, the company earned ($0.27) earnings per share. Applied Optoelectronics’s revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts expect that Applied Optoelectronics will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Applied Optoelectronics

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

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.