Applied Optoelectronics stock falls after earnings, but analysts defend bullish ratings [MarketWatch]
Applied Optoelectronics, Inc. (AAOI)
Last applied optoelectronics, inc. earnings: 2/27 04:10 pm
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Source: MarketWatch
Applied Optoelectronics stock falls after earnings, but analysts defend bullish ratings Shares of Applied Optoelectronics Inc. AAOI, -10.62% are down 8.1% in premarket trading after the company reported weaker-than-expected earnings and revenue for its March quarter. "The light quarter was blamed on staff turn-over in China," wrote Raymond James analyst Simon Leopold, who kept his strong buy rating on the stock and raised his price target to $51 from $50. Still, he sees "plenty of reasons for optimism," including management's projection that demand for 100G products will more than double in the second half of the year. Needham's Alex Henderson also defended his strong buy rating, writing that "normalizing data comm inventory is encouraging." He has a $40 price target on the stock. DA Davidson analyst Mark Kelleher wrote that Applied Optoelectronics saw three of its customers each make up more than 10% of total revenue during the quarter, which were likely Amazon.com Inc. AMZN, +0.
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News
- Applied Optoelectronics Announces Date of First Quarter 2024 Financial Results Conference Call [Yahoo! Finance]Yahoo! Finance
- Applied Optoelectronics Announces Date of First Quarter 2024 Financial Results Conference CallGlobeNewswire
- Nubis to Showcase Award-Winning 1.6Tbps Optical Module Optimized for ML/AI Clusters at OFC 2024 [Yahoo! Finance]Yahoo! Finance
- Applied Optoelectronics Tanks On Q1 2024 Outlook: Buy The Dip [Seeking Alpha]Seeking Alpha
- Applied Optoelectronics, Inc. (NASDAQ: AAOI) was upgraded by analysts at TheStreet from a "d" rating to a "c-" rating.MarketBeat
AAOI
Earnings
- 2/22/24 - Beat
AAOI
Sec Filings
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- AAOI's page on the SEC website