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William H. Yeh, a director at Applied Optoelectronics, Inc. (NASDAQ:AAOI), recently sold 10,000 shares of the company's common stock. The timing is notable as the stock has surged nearly 280% over the past six months and is currently trading near its 52-week high of $43.88. The shares were sold on December 3, 2024, at prices ranging from $43 to $43.44 per share. The total value of the transaction amounted to $430,807, with a weighted average sale price of approximately $43.08 per share.
Following this transaction, Yeh holds 223,538 shares of Applied Optoelectronics directly. The sale was executed through multiple transactions, and Yeh has committed to providing detailed information on the number of shares sold in each transaction upon request.
In other recent news, Applied Optoelectronics has initiated a patent infringement lawsuit against Eoptolink Technology USA Inc. The legal action asserts that Eoptolink has violated multiple optical transceiver patents held by Applied Optoelectronics. The company is seeking both monetary damages and a permanent injunction against Eoptolink to prevent further alleged infringement of its patents.
In financial updates, Applied Optoelectronics reported a rise in its Q3 2024 revenue, reaching $65.2 million, a 4% increase year-over-year, and a 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.
Looking ahead, 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%. The company has secured three out of the top five data center customers and expects margins from the cable TV segment to surpass those from data centers soon. These are among the recent developments that investors should be aware of.
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