Applied Optoelectronics, Inc. (NASDAQ:AAOI) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.04-1.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.31. The company issued revenue guidance of $88-89 million, compared to the consensus revenue estimate of $111.53 million.

Several brokerages have commented on AAOI. Needham & Company LLC reaffirmed a buy rating and issued a $115.00 price objective on shares of Applied Optoelectronics in a research report on Thursday. Craig Hallum reissued a buy rating and set a $80.00 price target (down previously from $95.00) on shares of Applied Optoelectronics in a research report on Tuesday, October 3rd. BWS Financial reissued a sell rating on shares of Applied Optoelectronics in a research report on Monday, October 2nd. Zacks Investment Research downgraded Applied Optoelectronics from a strong-buy rating to a hold rating in a research report on Tuesday, September 12th. Finally, ValuEngine downgraded Applied Optoelectronics from a strong-buy rating to a buy rating in a research report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Applied Optoelectronics currently has a consensus rating of Buy and an average target price of $80.98.

Applied Optoelectronics, Inc. (NASDAQ AAOI) traded down 4.23% during trading on Thursday, hitting $58.84. The stock had a trading volume of 3,261,425 shares. The company has a market cap of $1.14 billion, a P/E ratio of 13.98 and a beta of 3.06. The firm has a 50 day moving average of $60.97 and a 200-day moving average of $64.04. Applied Optoelectronics, Inc. has a one year low of $18.85 and a one year high of $103.41.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.28. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The business had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $117.34 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 112.3% on a year-over-year basis. Equities analysts anticipate that Applied Optoelectronics, Inc. will post $5.32 earnings per share for the current fiscal year.

In related news, General Counsel David C. Kuo sold 578 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $96.47, for a total transaction of $55,759.66. Following the completion of the transaction, the general counsel now directly owns 23,753 shares of the company’s stock, valued at approximately $2,291,451.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shu-Hua (Joshua) Yeh sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $92.51, for a total value of $1,850,200.00. Following the transaction, the insider now directly owns 89,742 shares of the company’s stock, valued at $8,302,032.42. The disclosure for this sale can be found here. Insiders sold 34,633 shares of company stock valued at $2,818,825 over the last ninety days. 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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