NeoPhotonics Corp (NYSE:NPTN)‘s stock had its “strong-buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued on Monday, May 8th. They presently have a $13.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price points to a potential upside of 59.51% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. B. Riley reaffirmed a “neutral” rating and set a $6.50 price objective on shares of NeoPhotonics Corp in a report on Thursday, May 4th. Cowen and Company cut their price objective on shares of NeoPhotonics Corp from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, March 15th. Finally, Zacks Investment Research lowered shares of NeoPhotonics Corp from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $13.05.
Shares of NeoPhotonics Corp (NYSE:NPTN) traded up 1.96% on Monday, reaching $8.31. 694,084 shares of the company were exchanged. The company’s 50 day moving average is $8.20 and its 200 day moving average is $10.46. The firm’s market capitalization is $357.98 million. NeoPhotonics Corp has a 12-month low of $6.90 and a 12-month high of $18.51.
NeoPhotonics Corp (NYSE:NPTN) last issued its quarterly earnings data on Friday, May 5th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.02. NeoPhotonics Corp had a positive return on equity of 4.18% and a negative net margin of 0.46%. The business had revenue of $71.70 million during the quarter, compared to the consensus estimate of $70.05 million. During the same quarter last year, the company earned $0.15 EPS. NeoPhotonics Corp’s revenue for the quarter was down 27.6% on a year-over-year basis. Analysts forecast that NeoPhotonics Corp will post ($0.56) earnings per share for the current year.
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In related news, CEO Timothy Storrs Jenks sold 92,125 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $7.35, for a total value of $677,118.75. Following the completion of the sale, the chief executive officer now directly owns 327,388 shares in the company, valued at $2,406,301.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 16.40% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of NPTN. Paloma Partners Management Co acquired a new stake in NeoPhotonics Corp during the first quarter valued at $103,000. TFS Capital LLC acquired a new stake in NeoPhotonics Corp during the first quarter valued at $110,000. Parametric Portfolio Associates LLC acquired a new stake in NeoPhotonics Corp during the first quarter valued at $131,000. American International Group Inc. increased its stake in NeoPhotonics Corp by 7.1% in the first quarter. American International Group Inc. now owns 18,979 shares of the semiconductor company’s stock valued at $171,000 after buying an additional 1,252 shares during the period. Finally, RidgeWorth Capital Management LLC increased its stake in NeoPhotonics Corp by 27.2% in the fourth quarter. RidgeWorth Capital Management LLC now owns 18,587 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 3,980 shares during the period. Institutional investors own 80.14% of the company’s stock.
NeoPhotonics Corp Company Profile
NeoPhotonics Corporation develops, manufactures and markets optoelectronic products that transmit, receive and switch digital optical signals for communications networks. The Company develops and manufactures Transmitter Products, Receiver Products and Switch Products that are used in ultra-high speed digital optical communications, high speed switching and provisioning, and access connections for wireless and fiber-to-the-home communications networks.
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