Applied Optoelectronics (NASDAQ:AAOI) Announces Earnings Results

Applied Optoelectronics (NASDAQ:AAOI) issued its earnings results on Tuesday. The semiconductor company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.01, Briefing.com reports. The business had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. Applied Optoelectronics had a negative return on equity of 16.30% and a negative net margin of 30.65%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.31) EPS. Applied Optoelectronics updated its Q3 2024 guidance to -0.200–0.140 EPS.

Applied Optoelectronics Price Performance

AAOI stock traded down $0.42 during midday trading on Wednesday, reaching $6.87. The stock had a trading volume of 3,999,723 shares, compared to its average volume of 2,459,949. Applied Optoelectronics has a 52-week low of $6.66 and a 52-week high of $24.75. The company has a market cap of $267.30 million, a price-to-earnings ratio of -3.77 and a beta of 1.97. The company’s fifty day simple moving average is $9.36 and its 200 day simple moving average is $12.52. The company has a current ratio of 1.79, a quick ratio of 1.06 and a debt-to-equity ratio of 0.39.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Rosenblatt Securities reduced their price target on Applied Optoelectronics from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, May 10th. B. Riley dropped their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday. B. Riley Financial dropped their target price on Applied Optoelectronics from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Finally, StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.25.

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.