B.Riley FBR analyst Dave Kang maintained a Hold rating on Applied Optoelectronics (AAOI) today and set a price target of $14.00. The company’s shares closed last Thursday at $15.05, close to its 52-week high of $16.75.
According to TipRanks.com, Kang is a top 100 analyst with an average return of 23.7% and a 69.6% success rate. Kang covers the Technology sector, focusing on stocks such as DASAN Zhone Solutions, Acacia Communications, and Extreme Networks.
The word on The Street in general, suggests a Hold analyst consensus rating for Applied Optoelectronics with a $16.83 average price target, which is a 4.9% upside from current levels. In a report released today, Craig-Hallum also upgraded the stock to Hold with a $19.00 price target.
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Based on Applied Optoelectronics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $40.47 million and GAAP net loss of $16.8 million. In comparison, last year the company earned revenue of $52.72 million and had a GAAP net loss of $10.47 million.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AAOI in relation to earlier this year.
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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. The company was founded by Chih Hsiang Lin on February 28, 1997 and is headquartered in Sugar Land, TX.
