Wall Street analysts expect Applied Optoelectronics Inc (NASDAQ:AAOI) to post $47.84 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Applied Optoelectronics’ earnings, with the highest sales estimate coming in at $49.00 million and the lowest estimate coming in at $47.35 million. Applied Optoelectronics posted sales of $58.02 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 17.5%. The company is scheduled to report its next earnings report on Thursday, February 20th.
On average, analysts expect that Applied Optoelectronics will report full year sales of $190.08 million for the current year, with estimates ranging from $189.57 million to $191.20 million. For the next year, analysts forecast that the firm will post sales of $220.18 million, with estimates ranging from $195.59 million to $250.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Applied Optoelectronics.
Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Wednesday, November 6th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.09. The business had revenue of $46.08 million during the quarter, compared to analyst estimates of $47.75 million. Applied Optoelectronics had a negative net margin of 19.57% and a negative return on equity of 8.12%. The company’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 earnings per share.
Several brokerages have recently weighed in on AAOI. Northland Securities reissued a “sell” rating and set a $6.50 price target on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Rosenblatt Securities raised shares of Applied Optoelectronics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $10.00 to $13.00 in a research report on Tuesday, November 5th. ValuEngine raised shares of Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut shares of Applied Optoelectronics from a “neutral” rating to an “underweight” rating and set a $11.00 target price on the stock. in a research report on Tuesday, October 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $11.58.
Shares of AAOI stock traded up $0.04 on Wednesday, hitting $10.39. 543,743 shares of the stock traded hands, compared to its average volume of 715,264. The firm’s 50-day moving average price is $10.51 and its two-hundred day moving average price is $9.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.68 and a current ratio of 2.96. The stock has a market capitalization of $208.24 million, a PE ratio of 19.60 and a beta of 2.17. Applied Optoelectronics has a twelve month low of $8.34 and a twelve month high of $20.82.
In other Applied Optoelectronics news, CFO Stefan J. Murry sold 6,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $10.41, for a total value of $62,460.00. Following the transaction, the chief financial officer now owns 65,443 shares of the company’s stock, valued at $681,261.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. lifted its position in Applied Optoelectronics by 39.7% in the third quarter. Point72 Asset Management L.P. now owns 419,100 shares of the semiconductor company’s stock valued at $4,702,000 after buying an additional 119,100 shares during the last quarter. State Street Corp lifted its position in shares of Applied Optoelectronics by 0.8% during the third quarter. State Street Corp now owns 548,152 shares of the semiconductor company’s stock worth $6,150,000 after purchasing an additional 4,235 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Applied Optoelectronics by 76.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,637 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 1,141 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Applied Optoelectronics by 5.8% during the third quarter. California Public Employees Retirement System now owns 116,600 shares of the semiconductor company’s stock worth $1,308,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Applied Optoelectronics by 27.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 6,430 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,375 shares in the last quarter. 61.77% of the stock is currently owned by institutional investors.
Applied Optoelectronics Company Profile
Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.
Further Reading: Hold Rating
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