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

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

Applied Optoelectronics Trading Down 2.7 %

Shares of Applied Optoelectronics stock traded down $0.29 during mid-day trading on Thursday, hitting $10.54. The stock had a trading volume of 3,169,843 shares, compared to its average volume of 2,715,392. The firm has a 50-day moving average of $12.70 and a two-hundred day moving average of $15.06. The firm has a market cap of $408.21 million, a P/E ratio of -5.92 and a beta of 2.12. The company has a quick ratio of 1.16, a current ratio of 1.85 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.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $65.19 million. During the same period in the prior year, the business posted ($0.27) earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts forecast that Applied Optoelectronics will post -0.2 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on AAOI shares. 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. B. Riley reaffirmed a neutral rating and set a $16.00 price objective (down previously from $22.00) on shares of Applied Optoelectronics in a research 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $16.88.

Insider Buying and Selling

In other Applied Optoelectronics news, Director Che-Wei Lin purchased 31,370 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 220,133 shares of the company’s stock, valued at approximately $2,795,689.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Chih-Hsiang (Thompson) Lin purchased 11,780 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average price of $12.66 per share, for a total transaction of $149,134.80. Following the completion of the purchase, the chief executive officer now directly owns 1,218,160 shares of the company’s stock, valued at $15,421,905.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Che-Wei Lin acquired 31,370 shares of the firm’s 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 completion of the transaction, the director now owns 220,133 shares in the company, valued at approximately $2,795,689.10. The disclosure for this purchase can be found here. 6.10% of the stock is 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.