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Applied Optoelectronics (AAOI) Gets a Buy from Rosenblatt Securities

Tipranks - Mon Jun 22, 5:06PM CDT

Rosenblatt Securities analyst Michael Genovese reiterated a Buy rating on Applied Optoelectronics today and set a price target of $220.00.

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According to TipRanks, Genovese is a top 100 analyst with an average return of 47.6% and a 57.81% success rate. Genovese covers the Technology sector, focusing on stocks such as Applied Optoelectronics, Calix, and Credo Technology Group Holding Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Applied Optoelectronics with a $151.30 average price target.

Based on Applied Optoelectronics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $151.14 million and a GAAP net loss of $14.28 million. In comparison, last year the company earned a revenue of $99.86 million and had a GAAP net loss of $9.17 million

Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAOI in relation to earlier this year. Earlier this month, Hung-Lun Chang, the *** SVP and North America General Manager of AAOI sold 61,297.00 shares for a total of $10,378,395.66.

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