Applied Optoelectronics (AAOI)
Vertically integrated maker of optical transceivers, laser chips, and cable-network equipment.
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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
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 11, 2026 | Raymond James | Reiterate | Rating: —Target: $151 | Target: $178 |
| Aug 7, 2026 | Raymond James | Target | Target: $160 | Target: $151 |
| Aug 7, 2026 | Needham | Reiterate | Rating: —Target: $43 | Target: $190 |
| May 8, 2026 | Raymond James | Target | Target: $25 | Target: $160 |
| Feb 27, 2026 | B. Riley Securities | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $499.7M · Total debt $264.5M · Total assets $2.30B · Shareholders' equity $1.67B
- Revenue
- $191.9M
- Operating income
- −$24.7M
- Net income
- −$22.8M
No dividends on record.
| Institutions | ≈ 58.05% | 49.09M shares | |
|---|---|---|---|
| 545 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 7.03% | 5.94M shares | |
| 12 holders · as of Sep 17, 2026 | |||
| Strategic holders | 5.30% | 4.49M shares | |
| 1 holder · as of May 13, 2026 | |||
| Other | ≈ 29.62% | 25.05M shares | |
| remainder | |||
84.57M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 7.63% | 6.45M | as of Jun 30, 2026 |
Marex Securities Products Inc.Strategic | 5.30% | 4.49M | filed May 13, 2026 |
Chih-Hsiang (Thompson) LinInsiderdirector, officer: President and CEO | 4.40% | 3.72M | filed Aug 4, 2026 |
Invesco Ltd.Institution | 4.04% | 3.41M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.98% | 3.36M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 10, 2026 | Stefan J. Murry | officer: Chief Financial Officer | −4,000 | $105.33 |
| Sep 8, 2026 | Hung-Lun (Fred) Chang | officer: *** See Remarks | −32,172 | $110.21 |
| 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 |
