Northland analyst Tim Savageaux raised the firm’s price target on Applied Optoelectronics (AAOI) to $45 from $35 and keeps an Outperform rating on the shares after the company announced the receipt of its first volume order for 800G transceivers from a larger hyperscale customers, which the firm views as “very likely” Amazon (AMZN). The company noted that it on track to meet the $4M-$8M revenue level for 800G modules in Q4, with 800G capacity exiting the year in the $120M per quarter range, the analyst points out.
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Read More on AAOI:
- Applied Optoelectronics price target raised to $43 from $38 at Needham
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