Four of seven analysts rate the stock "buy" and three rate it "hold".
The median price target is $149, according to LSEG data.
Recent share gains and quarterly results
On Aug. 4, AAOI shares surged 19% to close at $131.63 after a report that the Trump administration is drafting a ban on Chinese data center components, to help protect the infrastructure that undergirds the AI boom.
On Aug. 6, the company reported second-quarter revenue grew 86% year over year to $191.9 million, topping LSEG consensus of $190.5 million, as the company cited strong demand for its high-speed optics and 800G products.
Even with the decline, shares have more than tripled year to date.
Shares fall on planned $600 million stock offering
Shares of fiber optic networking products provider Applied Optoelectronics (AAOI.O) were down 11.8% to $110.11, a three-week low, on Monday as it plans to raise equity.
The Sugar Land, Texas-based firm late Friday filed for a $600 million ATM ("at-the-market") stock offering with Raymond James and Needham as sales agents.
The company intends to use net offering proceeds for general purposes, including debt repayment, working capital, capex and acquisitions.
It has about 84.91 million shares outstanding for a market cap of about $10.6 billion through Friday.
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