NeoPhotonics Corp Upgraded by Zacks to “Neutral” (NPTN)
NeoPhotonics Corp (NASDAQ:NPTN) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Monday. The firm currently has a $2.80 price objective on the stock. Zacks‘s target price points to a potential upside of 4.09% from the stock’s previous close.
Several other analysts have also recently commented on the stock. 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.21.
In other NeoPhotonics Corp news, Director Charles J. Abbe purchased 40,000 shares of NeoPhotonics Corp stock on the open market in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $2.69 per share, for a total transaction of $107,600.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
NeoPhotonics Corp (NASDAQ:NPTN) traded up 17.47% during mid-day trading on Monday, hitting $3.16. 311,306 shares of the company’s stock traded hands. NeoPhotonics Corp has a 1-year low of $2.20 and a 1-year high of $8.50. The stock’s 50-day moving average is $3.29 and its 200-day moving average is $5.54. The company’s market cap is $102.9 million.
NeoPhotonics Corp (NASDAQ:NPTN) last released its earnings data on Thursday, August 7th. The company reported ($0.24) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.20) by $0.04. During the same quarter last 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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