Applied Optoelectronics (NASDAQ:AAOI) Updates Q2 Earnings Guidance

Applied Optoelectronics (NASDAQ:AAOI) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of ($0.29)-($0.34) for the period, compared to the consensus earnings per share estimate of ($0.13). The company issued revenue guidance of $41.5-$46.5 million, compared to the consensus revenue estimate of $57.20 million.

Applied Optoelectronics Stock Performance

NASDAQ:AAOI traded down $0.29 during mid-day trading on Thursday, hitting $10.54. 3,014,402 shares of the company traded hands, compared to its average volume of 2,714,388. The stock’s fifty day moving average price is $12.81 and its 200-day moving average price is $15.10. The company has a quick ratio of 1.16, a current ratio of 1.85 and a debt-to-equity ratio of 0.38. The firm has a market cap of $408.21 million, a price-to-earnings ratio of -6.08 and a beta of 2.12. Applied Optoelectronics has a one year low of $1.64 and a one year high of $24.75.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $0.04 EPS 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 quarter last year, the business posted ($0.27) earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. Research analysts anticipate that Applied Optoelectronics will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on AAOI. StockNews.com upgraded Applied Optoelectronics from a sell rating to a hold rating in a research note on Thursday, May 2nd. TheStreet upgraded Applied Optoelectronics from a d rating to a c- rating in a report on Friday, February 23rd. Rosenblatt Securities cut their target price on Applied Optoelectronics from $23.00 to $20.00 and set a buy rating for the company in a research note on Friday, February 23rd. Finally, B. Riley restated a neutral rating and issued a $16.00 price objective (down from $22.00) on shares of Applied Optoelectronics in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $16.88.

Insider Activity at Applied Optoelectronics

In other Applied Optoelectronics news, CEO Chih-Hsiang (Thompson) Lin purchased 11,780 shares of Applied Optoelectronics stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $12.66 per share, for a total transaction of $149,134.80. Following the transaction, the chief executive officer now owns 1,218,160 shares in the company, valued at approximately $15,421,905.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Applied Optoelectronics news, Director Che-Wei Lin purchased 31,370 shares of the firm’s stock in a transaction dated 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 purchase, the director now 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. Also, CEO Chih-Hsiang (Thompson) Lin acquired 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 directly owns 1,218,160 shares of the company’s stock, valued at $15,421,905.60. The disclosure for this purchase can be found here. 6.10% of the stock is currently 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.