Applied Optoelectronics (NASDAQ:AAOI) Updates Q2 Earnings Guidance

Applied Optoelectronics (NASDAQ:AAOI) updated its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of ($0.29)-($0.34) for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

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

Applied Optoelectronics Price Performance

NASDAQ:AAOI traded down $0.29 during midday trading on Thursday, hitting $10.54. 3,014,402 shares of the stock were exchanged, compared to its average volume of 2,714,388. The company has a market capitalization of $408.21 million, a price-to-earnings ratio of -6.08 and a beta of 2.12. 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 one year low of $1.64 and a one year high of $24.75. The business has a 50-day moving average price of $12.81 and a two-hundred day moving average price of $15.10.

Applied Optoelectronics (NASDAQ:AAOI) last announced 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 business had revenue of $60.50 million during the quarter, compared to analyst estimates of $65.19 million. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Sell-side analysts predict that Applied Optoelectronics will post -0.2 EPS for the current year.

Insider Transactions at Applied Optoelectronics

In related news, CEO Chih-Hsiang (Thompson) Lin purchased 11,780 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average price of $12.66 per share, with a total value of $149,134.80. Following the purchase, the chief executive officer now owns 1,218,160 shares of the company’s stock, valued at approximately $15,421,905.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Applied Optoelectronics news, Director Che-Wei Lin purchased 31,370 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,795,689.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chih-Hsiang (Thompson) Lin acquired 11,780 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were acquired at an average price of $12.66 per share, with a total value of $149,134.80. Following the completion of the transaction, 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. Corporate insiders own 6.10% of the company’s stock.

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.