Applied Optoelectronics (NASDAQ:AAOI) Updates Q4 2024 Earnings Guidance

Applied Optoelectronics (NASDAQ:AAOI) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of -0.040-0.040 for the period, compared to the consensus EPS estimate of 0.060. The company issued revenue guidance of $94.0 million-$104.0 million, compared to the consensus revenue estimate of $98.6 million. Applied Optoelectronics also updated its Q4 guidance to ($0.04) to $0.04 EPS.

Applied Optoelectronics Price Performance

AAOI traded up $9.86 during trading on Friday, reaching $27.76. The stock had a trading volume of 19,430,463 shares, compared to its average volume of 2,523,117. The business has a 50-day moving average of $15.59 and a 200-day moving average of $11.79. Applied Optoelectronics has a one year low of $6.70 and a one year high of $27.81. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64. The stock has a market cap of $1.14 billion, a PE ratio of -14.53 and a beta of 1.96.

Analyst Ratings Changes

Several research firms have commented on AAOI. Rosenblatt Securities lifted their price target on shares of Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a research note on Friday. Northland Securities boosted their price target on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday. B. Riley reduced their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. B. Riley Financial reissued a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a research note on Thursday, August 8th. Finally, Raymond James increased their target price on Applied Optoelectronics from $17.00 to $23.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.70.

Insider Activity at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total value of $150,200.00. Following the completion of the sale, the insider now owns 132,921 shares in the company, valued at approximately $1,996,473.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.40% of the stock is owned by company 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.