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NeoPhotonics Corp (NASDAQ:NPTN) shares shot up 12.6% on Monday following insider buying activity, Analyst Ratings Net reports. The stock traded as high as $3.16 and last traded at $3.03, with a volume of 196,204 shares. The stock had previously closed at $2.69.

Specifically, Director Charles J. Abbe bought 40,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $2.69 per share, with a total value of $107,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of research firms have recently commented on NPTN. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of NeoPhotonics Corp in a research note on Friday, August 8th. They now have a $4.00 price target on the stock, down previously from $5.00. Separately, analysts at Needham & Company LLC cut their price target on shares of NeoPhotonics Corp from $10.00 to $7.00 in a research note on Monday, June 23rd. They now have a “buy” rating on the stock. Finally, analysts at B. Riley reiterated a “buy” rating on shares of NeoPhotonics Corp in a research note on Tuesday, June 17th. They now have a $7.75 price target on the stock, down previously from $9.00. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. NeoPhotonics Corp has an average rating of “Hold” and a consensus target price of $5.81.

The stock has a 50-day moving average of $3.29 and a 200-day moving average of $5.54. The company’s market cap is $99.3 million.

NeoPhotonics Corp (NASDAQ:NPTN) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.20) by $0.04. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Analysts expect that NeoPhotonics Corp will post $-0.69 EPS for the current fiscal year.

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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