Brokerages expect Applied Optoelectronics Inc (NASDAQ:AAOI) to announce sales of $76.53 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Applied Optoelectronics’ earnings, with the highest sales estimate coming in at $78.13 million and the lowest estimate coming in at $75.00 million. Applied Optoelectronics posted sales of $117.37 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 34.8%. The company is scheduled to report its next earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Applied Optoelectronics will report full year sales of $328.18 million for the current fiscal year, with estimates ranging from $319.11 million to $346.40 million. For the next financial year, analysts forecast that the business will post sales of $389.03 million per share, with estimates ranging from $372.21 million to $405.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Applied Optoelectronics.
Applied Optoelectronics (NASDAQ:AAOI) last released its earnings results on Tuesday, May 8th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.05). The company had revenue of $65.20 million during the quarter, compared to analyst estimates of $68.94 million. Applied Optoelectronics had a net margin of 16.02% and a return on equity of 20.82%. Applied Optoelectronics’s revenue was down 32.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS.
AAOI has been the topic of a number of recent research reports. DA Davidson set a $55.00 target price on Applied Optoelectronics and gave the company a “buy” rating in a research report on Tuesday, March 6th. ValuEngine upgraded Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. BidaskClub upgraded Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Friday, April 13th. Zacks Investment Research cut Applied Optoelectronics from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Finally, Cowen reiterated an “outperform” rating and set a $53.00 price target (down previously from $60.00) on shares of Applied Optoelectronics in a report on Thursday, February 22nd. Five analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and four have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.53.
In other news, CFO Stefan J. Murry sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $44.25, for a total transaction of $132,750.00. Following the completion of the sale, the chief financial officer now owns 67,695 shares in the company, valued at $2,995,503.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 6.90% of the company’s stock.
Several large investors have recently modified their holdings of the company. Royce & Associates LP acquired a new stake in shares of Applied Optoelectronics in the fourth quarter valued at approximately $1,467,000. OppenheimerFunds Inc. raised its position in shares of Applied Optoelectronics by 51.1% in the fourth quarter. OppenheimerFunds Inc. now owns 6,394 shares of the semiconductor company’s stock valued at $242,000 after buying an additional 2,161 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Applied Optoelectronics by 289.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 14,490 shares of the semiconductor company’s stock valued at $548,000 after buying an additional 10,770 shares in the last quarter. BlackRock Inc. raised its position in shares of Applied Optoelectronics by 1.8% in the fourth quarter. BlackRock Inc. now owns 2,337,680 shares of the semiconductor company’s stock valued at $88,411,000 after buying an additional 41,243 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Applied Optoelectronics in the fourth quarter valued at approximately $134,000. Institutional investors own 68.56% of the company’s stock.
Shares of NASDAQ:AAOI traded up $0.16 during midday trading on Monday, reaching $43.74. The company had a trading volume of 791,603 shares, compared to its average volume of 1,453,361. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.14 and a current ratio of 3.46. The company has a market cap of $832.50 million, a P/E ratio of 10.35, a P/E/G ratio of 2.24 and a beta of 2.71. Applied Optoelectronics has a 1-year low of $22.54 and a 1-year high of $103.41.
About Applied Optoelectronics
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.
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