In a report released today, Tim Savageaux from Northland Securities maintained a Sell rating on Applied Optoelectronics (AAOI), with a price target of $6.50. The company’s shares closed yesterday at $12.06, close to its 52-week low of $11.77.
According to TipRanks.com, Savageaux is a 4-star analyst with an average return of 5.5% and a 53.2% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, DASAN Zhone Solutions Inc, and Acacia Communications.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Applied Optoelectronics with a $11.20 average price target, a -7.1% downside from current levels. In a report released today, Rosenblatt Securities also maintained a Sell rating on the stock with a $10 price target.
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Based on Applied Optoelectronics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.57 million. In comparison, last year the company had a net profit of $2.12 million.
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Applied Optoelectronics, Inc. engages in the design and manufacture of optical communications products. Its products include optical devices, such as laser diodes, photodiodes, related modules and circuitry, and equipment for applications in fiber-to-the-home, cable television, point to point communications and wireless.
