NeoPhotonics Corp (NPTN) Announces Quarterly Earnings, Meets Expectations
NeoPhotonics Corp (NASDAQ:NPTN) issued its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.30), AnalystRatingsNetwork.com reports. The company had revenue of $68.20 million for the quarter, compared to the consensus estimate of $68.05 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share.
A number of research firms have recently commented on NPTN. Analysts at B. Riley cut their price target on shares of NeoPhotonics Corp from $11.75 to $9.00 in a research note on Tuesday, May 20th. They now have a “buy” rating on the stock. On the ratings front, analysts at Deutsche Bank reiterated a “hold” rating on shares of NeoPhotonics Corp in a research note on Tuesday, May 20th. They now have a $4.50 price target on the stock, down previously from $5.50. Finally, analysts at Piper Jaffray cut their price target on shares of NeoPhotonics Corp from $7.50 to $5.00 in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.80.
Shares of NeoPhotonics Corp (NASDAQ:NPTN) traded up 1.87% during mid-day trading on Tuesday, hitting $4.36. 225,473 shares of the company’s stock traded hands. NeoPhotonics Corp has a 52 week low of $3.89 and a 52 week high of $9.77. The stock’s 50-day moving average is $4.76 and its 200-day moving average is $6.50. The company’s market cap is $138.6 million.
NeoPhotonics Corporation is a designer and manufacturer of photonic integrated circuit (NASDAQ:NPTN)-based modules and subsystems for bandwidth-intensive, high-speed communications networks.
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