DA Davidson Downgrades Applied Optoelectronics (AAOI) to Neutral
DA Davidson analyst Mark Kelleher downgraded Applied Optoelectronics (NASDAQ: AAOI) from Buy to Neutral with a price target of $16.00.
The analyst commented, "Despite the 3Q shortfall, Applied Optoelectronics is one of the leading providers of optical networking technology to the data-center and cable TV (CATV) markets. With an integrated manufacturing capability and industry leading laser technology, the company is well positioned to benefit from the growing dominance of ‘hyperscale’ data centers. As these data centers grow larger, the need for small form-factor transceivers that deploy CWDM technology increases. With inventory levels growing at data center customers, visibility to overall revenue growth is muted. We are therefore downgrading AAOI from Buy to NEUTRAL."
For an analyst ratings summary and ratings history on Applied Optoelectronics click here. For more ratings news on Applied Optoelectronics click here.
Shares of Applied Optoelectronics closed at $12.80 yesterday.