B. Riley raised the firm’s price target on Applied Optoelectronics (AAOI) to $129 from $54 and keeps a Neutral rating on the shares post the Q1 report. The company’s outlook came in below consensus as a meaningful ramp in 800G is pushed to the second half of the year, the analyst tells investors in a research note. The firm believes Applied’s primary risk lies in its reliance on customer provided forecasts.
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- Applied Optoelectronics reports Q1 adjusted EPS -7c, consensus -5c
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- Mixed options sentiment in Applied Optoelectronics with shares down 1.4%