Granite Point Capital Management L.P. Trims Position in NeoPhotonics Corp (NPTN)

Granite Point Capital Management L.P. lowered its stake in shares of NeoPhotonics Corp (NYSE:NPTN) by 63.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,176 shares of the semiconductor company’s stock after selling 57,326 shares during the period. Granite Point Capital Management L.P.’s holdings in NeoPhotonics were worth $215,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Fox Run Management L.L.C. purchased a new stake in NeoPhotonics during the third quarter valued at about $100,000. Trexquant Investment LP purchased a new stake in NeoPhotonics during the third quarter valued at about $215,000. MetLife Investment Advisors LLC purchased a new stake in NeoPhotonics during the third quarter valued at about $217,000. Ibex Investors LLC purchased a new stake in NeoPhotonics during the third quarter valued at about $220,000. Finally, Rhumbline Advisers lifted its holdings in NeoPhotonics by 43.4% during the fourth quarter. Rhumbline Advisers now owns 50,812 shares of the semiconductor company’s stock valued at $329,000 after purchasing an additional 15,388 shares during the last quarter. Institutional investors own 75.38% of the company’s stock.

Several equities research analysts have commented on NPTN shares. Zacks Investment Research raised shares of NeoPhotonics from a “hold” rating to a “buy” rating and set a $7.75 price objective on the stock in a report on Saturday, January 19th. ValuEngine downgraded shares of NeoPhotonics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. Rosenblatt Securities set a $13.00 price objective on shares of NeoPhotonics and gave the company a “buy” rating in a report on Monday, December 10th. B. Riley upped their price objective on shares of NeoPhotonics from $10.00 to $11.00 and gave the company a “buy” rating in a report on Monday, November 5th. Finally, Craig Hallum set a $10.00 price objective on shares of NeoPhotonics and gave the company a “buy” rating in a report on Monday, November 5th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $9.34.

Shares of NeoPhotonics stock opened at $7.20 on Monday. NeoPhotonics Corp has a 12-month low of $5.00 and a 12-month high of $9.48. The stock has a market capitalization of $331.55 million, a PE ratio of -6.55 and a beta of 1.31. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

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NeoPhotonics Profile

NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. It offers high speed products, including transmitter, receiver, and switching products for 100G (gigabits per second) and optical transmission applications over distances of 2 to 2,000 kilometers; optical components for coherent systems, including narrow linewidth tunable transmit and local oscillator lasers (NLW-ITLA) that generate ultra-pure wavelength or color for coherent transmission, as well as coherent micro-modulators, which encode the information on the intensity and phase of the optical beam; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent signals.

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Institutional Ownership by Quarter for NeoPhotonics (NYSE:NPTN)

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