Applied Optoelectronics (NASDAQ:AAOI) Announces Earnings Results

Applied Optoelectronics (NASDAQ:AAOI) announced its quarterly earnings results on Thursday. The semiconductor company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03, FiscalAI reports. Applied Optoelectronics had a negative net margin of 9.57% and a negative return on equity of 1.98%. The business had revenue of $269.88 million during the quarter, compared to analyst estimates of $268.11 million.

Applied Optoelectronics Stock Down 20.9%

Shares of AAOI traded down $12.38 during trading hours on Thursday, reaching $46.89. 27,014,926 shares of the stock traded hands, compared to its average volume of 10,543,311. Applied Optoelectronics has a 52 week low of $18.50 and a 52 week high of $233.67. The company has a market cap of $3.97 billion, a price-to-earnings ratio of -60.12 and a beta of 4.04. The stock has a fifty day simple moving average of $95.56 and a 200 day simple moving average of $113.14. The company has a current ratio of 2.78, a quick ratio of 2.13 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAOI. Rosenblatt Securities reissued a “buy” rating and set a $220.00 target price on shares of Applied Optoelectronics in a research report on Friday, August 7th. Wall Street Zen raised Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings raised Applied Optoelectronics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. Northland Securities upgraded Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Monday. Finally, B. Riley Financial cut their target price on Applied Optoelectronics from $109.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, insider Shu-Hua Yeh sold 6,000 shares of Applied Optoelectronics stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $120.03, for a total transaction of $720,180.00. Following the transaction, the insider owned 371,498 shares of the company’s stock, valued at $44,590,904.94. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stefan Murry sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $102.87, for a total value of $411,480.00. Following the completion of the transaction, the chief financial officer owned 363,168 shares in the company, valued at $37,359,092.16. The trade was a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 52,172 shares of company stock worth $5,985,036. Insiders own 3.80% of the company’s stock.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc (NASDAQ: AAOI) develops and manufactures fiber-optic networking products and solutions. Its offerings include optical transceivers, transmitters, receivers, lasers, and related components used to transmit data across fiber-optic networks.

The company serves several communications markets, including data centers, broadband access networks, cable television, and telecommunications. Its products are designed for applications such as high-speed data transmission, fiber-to-the-home and other broadband deployments, network connectivity, and communications infrastructure.

Founded in 1997 and headquartered in Sugar Land, Texas, Applied Optoelectronics supports customers in multiple regions, including North America, Asia, and other international markets.