JPMorgan Chase & Co. raised its position in shares of NeoPhotonics Corp (NYSE:NPTN) by 136.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 962,190 shares of the semiconductor company’s stock after buying an additional 554,494 shares during the quarter. JPMorgan Chase & Co.’s holdings in NeoPhotonics were worth $6,053,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NPTN. Spark Investment Management LLC acquired a new position in shares of NeoPhotonics in the 1st quarter valued at about $567,000. Teacher Retirement System of Texas acquired a new position in shares of NeoPhotonics in the 1st quarter valued at about $1,266,000. State Treasurer State of Michigan acquired a new position in shares of NeoPhotonics in the 1st quarter valued at about $611,000. California Public Employees Retirement System lifted its holdings in shares of NeoPhotonics by 37.0% in the 1st quarter. California Public Employees Retirement System now owns 25,893 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 6,993 shares during the period. Finally, Quantamental Technologies LLC lifted its holdings in shares of NeoPhotonics by 49.5% in the 1st quarter. Quantamental Technologies LLC now owns 5,440 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 78.35% of the company’s stock.
Several equities analysts have recently issued reports on NPTN shares. ValuEngine cut NeoPhotonics from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. TheStreet raised NeoPhotonics from a “d+” rating to a “c” rating in a report on Friday, March 1st. MKM Partners started coverage on NeoPhotonics in a report on Monday, April 29th. They issued a “buy” rating and a $9.00 price objective for the company. Northland Securities reissued a “buy” rating and issued a $11.00 price objective on shares of NeoPhotonics in a report on Friday, May 3rd. Finally, Rosenblatt Securities reissued a “buy” rating on shares of NeoPhotonics in a report on Wednesday, February 27th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $7.91.
NYSE NPTN opened at $4.17 on Friday. The stock has a market capitalization of $190.54 million, a P/E ratio of -5.64 and a beta of 1.70. NeoPhotonics Corp has a twelve month low of $3.26 and a twelve month high of $9.48. The company has a quick ratio of 1.51, a current ratio of 1.98 and a debt-to-equity ratio of 0.45.
NeoPhotonics (NYSE:NPTN) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). The business had revenue of $79.40 million during the quarter, compared to analyst estimates of $79.99 million. NeoPhotonics had a negative return on equity of 17.55% and a negative net margin of 11.85%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.33) EPS. As a group, equities research analysts expect that NeoPhotonics Corp will post -0.8 EPS for the current year.
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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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