Analysts Expect Applied Optoelectronics, Inc. (NASDAQ:AAOI) Will Announce Quarterly Sales of $115.64 Million

Wall Street brokerages predict that Applied Optoelectronics, Inc. (NASDAQ:AAOI) will report sales of $115.64 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Applied Optoelectronics’ earnings, with the lowest sales estimate coming in at $109.00 million and the highest estimate coming in at $117.30 million. Applied Optoelectronics reported sales of $55.25 million in the same quarter last year, which indicates a positive year over year growth rate of 109.3%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, August 3rd.

On average, analysts expect that Applied Optoelectronics will report full-year sales of $115.64 million for the current fiscal year, with estimates ranging from $436.20 million to $475.30 million. For the next financial year, analysts expect that the business will report sales of $557.28 million per share, with estimates ranging from $533.70 million to $576.20 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Applied Optoelectronics.

Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Applied Optoelectronics had a net margin of 17.08% and a return on equity of 23.75%. The business had revenue of $96.20 million for the quarter, compared to the consensus estimate of $96.20 million. During the same period in the prior year, the company posted ($0.04) earnings per share. Applied Optoelectronics’s revenue was up 90.9% compared to the same quarter last year.

AAOI has been the subject of several recent research reports. Cowen and Company lifted their price objective on Applied Optoelectronics from $66.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 18th. Roth Capital reissued a “buy” rating and issued a $70.00 price objective (up previously from $60.00) on shares of Applied Optoelectronics in a report on Friday, May 5th. Vetr lowered Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $68.41 price objective for the company. in a report on Tuesday, May 9th. ValuEngine raised Applied Optoelectronics from a “hold” rating to a “buy” rating in a report on Thursday, May 18th. Finally, Needham & Company LLC initiated coverage on Applied Optoelectronics in a report on Monday, May 22nd. They issued a “strong-buy” rating and a $85.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. Applied Optoelectronics presently has an average rating of “Buy” and an average target price of $80.64.

Applied Optoelectronics (NASDAQ:AAOI) traded down 1.21% during trading on Wednesday, hitting $96.64. 2,629,680 shares of the company traded hands. Applied Optoelectronics has a 12-month low of $11.60 and a 12-month high of $103.41. The stock has a 50 day moving average price of $72.99 and a 200 day moving average price of $54.45. The company has a market capitalization of $1.84 billion, a P/E ratio of 34.05 and a beta of 2.84.

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In other Applied Optoelectronics news, General Counsel David C. Kuo sold 1,116 shares of Applied Optoelectronics stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $94.87, for a total transaction of $105,874.92. Following the completion of the transaction, the general counsel now owns 25,041 shares of the company’s stock, valued at approximately $2,375,639.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hung-Lun (Fred) Chang sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $59.50, for a total value of $595,000.00. Following the transaction, the insider now directly owns 46,054 shares of the company’s stock, valued at approximately $2,740,213. The disclosure for this sale can be found here. Insiders have sold a total of 138,164 shares of company stock valued at $9,669,661 in the last ninety days. Insiders own 8.19% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Whale Rock Capital Management LLC raised its stake in Applied Optoelectronics by 75.2% in the first quarter. Whale Rock Capital Management LLC now owns 1,155,356 shares of the semiconductor company’s stock valued at $64,873,000 after buying an additional 495,915 shares in the last quarter. Vanguard Group Inc. raised its stake in Applied Optoelectronics by 7.7% in the first quarter. Vanguard Group Inc. now owns 636,472 shares of the semiconductor company’s stock valued at $35,737,000 after buying an additional 45,353 shares in the last quarter. Morgan Stanley raised its stake in Applied Optoelectronics by 245.9% in the first quarter. Morgan Stanley now owns 521,051 shares of the semiconductor company’s stock valued at $29,257,000 after buying an additional 370,427 shares in the last quarter. Renaissance Technologies LLC raised its stake in Applied Optoelectronics by 195.2% in the first quarter. Renaissance Technologies LLC now owns 514,000 shares of the semiconductor company’s stock valued at $28,861,000 after buying an additional 339,900 shares in the last quarter. Finally, State Street Corp raised its stake in Applied Optoelectronics by 26.8% in the first quarter. State Street Corp now owns 332,285 shares of the semiconductor company’s stock valued at $18,655,000 after buying an additional 70,219 shares in the last quarter. 78.68% of the stock is owned by institutional investors and hedge funds.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.

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