Needham analyst Alex Henderson assigned a Buy rating to Applied Optoelectronics (AAOI) today and set a price target of $22.00. The company’s shares closed last Thursday at $15.05, close to its 52-week high of $16.75.
According to TipRanks.com, Henderson is a top 100 analyst with an average return of 22.0% and a 60.7% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Forescout Technologies, and CrowdStrike Holdings.
Currently, the analyst consensus on Applied Optoelectronics is a Hold with an average price target of $13.00.
See today’s analyst top recommended stocks >>
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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
