Applied Optoelectronics
Vertically integrated maker of optical transceivers, laser chips, and cable-network equipment.
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Profile
Designs and manufactures laser chips, optical components, transceivers, and cable-network equipment for hyperscale data centers, broadband, telecom, and fiber access. Making most laser chips and components in-house differentiates the model, while sales remain concentrated among a small number of cable and hyperscale customers.
Designs and manufactures fiber-optic networking products for internet data centers, cable television, telecommunications, and fiber-to-the-home networks. The portfolio runs from laser chips and optical components to transceivers and complete hybrid fiber-coax equipment, including Quantum Bandwidth amplifiers and nodes sold to cable operators. High-speed transceivers connect switches and servers inside hyperscale cloud and AI data centers, while telecom products support mobile and metro networks.
Controls much of the production chain: laser chips are fabricated in Sugar Land, then integrated into components and transceivers across facilities in Texas, Taiwan, and China. This vertical model supports rapid development, production scaling, and quality control. Products sell worldwide, but revenue remains concentrated among a small set of cable and hyperscale customers.
Company facts
Categories
Key statistics
Year to date +168% · Average volume (30d) 11.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | Raymond James | Reiterate | Outperform | $151 | $178 | |
| Aug 7, 2026 | Raymond James | Target | $160 | $151 | ||
| Aug 7, 2026 | Needham | Reiterate | Buy | $43 | $190 | |
| May 8, 2026 | Raymond James | Target | $25 | $160 | ||
| Feb 27, 2026 | B. Riley Securities | Upgrade | Sell | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.02 | $0.06 | +296.6% | $190.5M | $191.9M | +0.8% | +9.19% |
| May 7, 2026Q1 FY26 | −$0.05 | −$0.07 | −42.9% | $157.0M | $151.1M | −3.7% | −5.46% |
| Feb 26, 2026Q4 FY25 | −$0.12 | −$0.01 | +91.7% | $132.3M | $134.3M | +1.5% | +56.88% |
| Nov 6, 2025Q3 FY25 | −$0.10 | −$0.09 | +10.0% | $131.6M | $118.6M | −9.8% | −1.82% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $99.9M | $103.0M | $118.6M | $134.3M | $151.1M | $191.9M | |
| Gross profit | $30.5M | $31.2M | $33.3M | $41.9M | $43.9M | $53.2M | |
| Operating income | −$8.9M | −$16.0M | −$18.2M | −$11.5M | −$13.0M | −$24.7M | |
| Net income | −$9.2M | −$9.1M | −$17.9M | −$2.0M | −$14.3M | −$22.8M | |
| Diluted EPS | −$0.18 | −$0.16 | −$0.28 | −$0.03 | −$0.19 | −$0.28 | |
| Gross margin | 30.6% | 30.3% | 28.0% | 31.2% | 29.1% | 27.7% | |
| Operating margin | -8.9% | -15.5% | -15.3% | -8.6% | -8.6% | -12.9% |
Fiscal years (4-quarter sums)FY21 $211.6M · FY22 $222.8M · FY23 $217.6M · FY24 $249.4M · FY25 $455.7M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $499.7M · Total debt $264.5M · Total assets $2.30B · Shareholders' equity $1.67B
Dividends
No dividends on record.
Ownership
Shares outstanding 80.24M · Float 75.88M · 94.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.45M | 8.04% | 13F | Aug 7, 2026 |
| Invesco Ltd. | 3.41M | 4.25% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 3.36M | 4.19% | 13F | Aug 13, 2026 |
| Marex Group PLC | 2.83M | 3.53% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 2.65M | 3.30% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | Shu-Hua (Joshua) Yeh | officer: *** See Remarks | −6,000 | $147.73 |
| Aug 10, 2026 | Stefan J. Murry | officer: Chief Financial Officer | −4,000 | $144.79 |
| Aug 4, 2026 | Shu-Hua (Joshua) Yeh | officer: *** See Remarks | −4,715 | $126.50 |
| Jul 21, 2026 | Shu-Hua (Joshua) Yeh | officer: *** See Remarks | −1,285 | $120.02 |
| Jul 10, 2026 | Stefan J. Murry | officer: Chief Financial Officer | −4,000 | $122.09 |
Peers
- Lumentum
EML laser chip leader; 800G/1.6T transceiver maker for same hyperscalers.
- Coherent
Largest diversified photonics company; 800G/1.6T transceivers, InP lasers, SiPh.
- Harmonic
Cable broadband market leader; Remote PHY nodes for MSO DOCSIS 4.0 upgrades.
