Nucor earnings beat by $0.08, revenue fell short of estimates
Elizabeth G. Loboa, a director at Applied Optoelectronics, Inc. (NASDAQ:AAOI), recently sold 9,790 shares of the company's common stock. The timing of this sale comes as the stock trades near its 52-week high of $43.88, having delivered an impressive return of nearly 280% over the past six months. The transactions took place on December 2, 2024, with sale prices ranging from $41.26 to $41.79 per share. The weighted average sale price for these transactions was reported to be $41.4626, resulting in a total transaction value of approximately $405,918. Following these sales, Loboa holds 114,710 shares directly. According to InvestingPro analysis, AAOI's current market capitalization stands at $1.87 billion, with the stock showing significant momentum and trading at elevated multiples. Get access to 17+ additional ProTips and comprehensive valuation metrics with InvestingPro's detailed research report.
In other recent news, Applied Optoelectronics has filed a patent infringement lawsuit against Eoptolink Technology USA Inc., alleging violations of multiple optical transceiver patents. The company is seeking both monetary damages and a permanent injunction to prevent further alleged infringement.
In financial developments, Applied Optoelectronics reported a Q3 2024 revenue of $65.2 million, marking a 4% increase year-over-year and a substantial 51% surge from the previous quarter. Despite a 16% year-over-year decrease in data center revenue, the company reported a 90% sequential growth in the same sector. The CATV segment's revenue also experienced a significant increase due to high demand for 1.8 GHz amplifiers.
The company's non-GAAP loss per share stood at $0.21, attributed to increased research and development costs, primarily in the data center sector. Analysts from Applied Optoelectronics project Q4 revenue to be between $94 million and $104 million, with a non-GAAP gross margin expected to be between 27.5% and 29.5%. These are the recent developments for investors to note.
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