Needham maintained a Buy rating on Applied Optoelectronics stock on October 15, 2023, while lowering its price target to $170 from $190.
Applied Optoelectronics stock target
The $20 reduction represented a 10.53% cut to Needham’s previous target. The Buy recommendation was unchanged.
A price target is an analyst’s estimate, not a guaranteed future share price. The available information does not establish whether Needham’s 2023 rating or target remains in effect, or give a stated reason from the firm for the reduction.
An accompanying market snapshot listed the shares at $71.94, but did not specify when that price was observed. It should not be assumed to be the price on the rating date or the latest price.
Fiber-optic products
Applied Optoelectronics, which trades under the ticker AAOI, designs and manufactures fiber-optic networking products, including optical components and transceivers.
Its products serve markets including internet data centers, cable television, telecommunications and fiber-to-the-home applications. They are primarily sold to data center operators and telecom equipment manufacturers.
Read More News
Disclaimer
This FinanceVelix article provides general information, not personalized financial, investment, legal, or tax advice. Market prices, interest rates and economic conditions can change; investments carry a risk of loss. Facts reflect the material available when published and may change. Check important information independently and consult a qualified professional when needed. Mentioning an asset, company, or service is not an endorsement.
Comments
Be respectful. No spam, impersonation or private credentials. Ordinary posts and comments appear immediately; suspicious links are held for review.
Please wait…