Applied Optoelectronics (AAOI) Issues Q1 Earnings Guidance
Applied Optoelectronics (NASDAQ:AAOI) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.28-0.34 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.69. The company issued revenue guidance of $67-71 million, compared to the consensus revenue estimate of $86.45 million.
A number of research firms recently weighed in on AAOI. ValuEngine raised Applied Optoelectronics from a buy rating to a strong-buy rating in a research report on Tuesday, November 14th. Piper Jaffray Companies reiterated a buy rating and set a $51.00 target price on shares of Applied Optoelectronics in a research note on Friday, November 10th. TheStreet downgraded Applied Optoelectronics from a b- rating to a c rating in a research note on Wednesday, November 15th. Cowen reiterated a buy rating and set a $60.00 target price (down from $74.00) on shares of Applied Optoelectronics in a research note on Thursday, December 7th. Finally, Zacks Investment Research upgraded Applied Optoelectronics from a strong sell rating to a hold rating in a research note on Wednesday, December 13th. Five research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $51.53.
Shares of Applied Optoelectronics (NASDAQ:AAOI) traded up $1.22 on Wednesday, reaching $34.55. The company’s stock had a trading volume of 2,276,560 shares, compared to its average volume of 1,290,000. The company has a current ratio of 2.99, a quick ratio of 2.02 and a debt-to-equity ratio of 0.12. Applied Optoelectronics has a 1-year low of $28.56 and a 1-year high of $103.41. The stock has a market cap of $669.65, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 0.65 and a beta of 2.51.
In other news, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $35.37, for a total value of $35,370.00. Following the transaction, the director now directly owns 34,478 shares in the company, valued at approximately $1,219,486.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.19% of the company’s stock.
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About Applied Optoelectronics
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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