NeoPhotonics Corp. (NPTN) Given “Overweight” Rating at Piper Jaffray Cos.
NeoPhotonics Corp. (NYSE:NPTN)‘s stock had its “overweight” rating restated by stock analysts at Piper Jaffray Cos. in a report issued on Friday. They presently have a $20.00 price target on the stock, up from their previous price target of $17.00. Piper Jaffray Cos.’s price target indicates a potential upside of 23.08% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of NeoPhotonics Corp. in a report on Thursday, August 18th. TheStreet raised NeoPhotonics Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. B. Riley reissued a “neutral” rating and issued a $12.75 price objective on shares of NeoPhotonics Corp. in a report on Tuesday, August 9th. Finally, Craig Hallum reissued a “buy” rating on shares of NeoPhotonics Corp. in a report on Sunday, July 17th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. NeoPhotonics Corp. presently has an average rating of “Buy” and a consensus price target of $15.71.
NeoPhotonics Corp. (NYSE:NPTN) traded down 0.37% during mid-day trading on Friday, hitting $16.25. The company had a trading volume of 522,656 shares. The company has a 50-day moving average price of $16.28 and a 200 day moving average price of $12.64. The firm has a market capitalization of $679.49 million, a P/E ratio of 106.91 and a beta of 0.77. NeoPhotonics Corp. has a 12 month low of $6.68 and a 12 month high of $18.51.
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NeoPhotonics Corp. (NYSE:NPTN) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. NeoPhotonics Corp. had a return on equity of 7.67% and a net margin of 1.82%. The company earned $99.13 million during the quarter, compared to analysts’ expectations of $101.82 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that NeoPhotonics Corp. will post $0.68 EPS for the current fiscal year.
In other news, SVP Benjamin Lee Sitler sold 5,669 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $12.00, for a total value of $68,028.00. Following the completion of the sale, the senior vice president now directly owns 68,009 shares in the company, valued at $816,108. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy Storrs Jenks sold 22,666 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $15.04, for a total value of $340,896.64. Following the completion of the sale, the chief executive officer now owns 193,157 shares of the company’s stock, valued at $2,905,081.28. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. American International Group Inc. raised its stake in NeoPhotonics Corp. by 8.5% in the second quarter. American International Group Inc. now owns 17,747 shares of the company’s stock worth $169,000 after buying an additional 1,395 shares during the period. Princeton Capital Management Inc. raised its stake in NeoPhotonics Corp. by 2.2% in the second quarter. Princeton Capital Management Inc. now owns 71,150 shares of the company’s stock worth $678,000 after buying an additional 1,525 shares during the period. California State Teachers Retirement System raised its stake in NeoPhotonics Corp. by 3.0% in the second quarter. California State Teachers Retirement System now owns 64,642 shares of the company’s stock worth $616,000 after buying an additional 1,908 shares during the period. JPMorgan Chase & Co. raised its stake in NeoPhotonics Corp. by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 131,100 shares of the company’s stock worth $1,250,000 after buying an additional 2,170 shares during the period. Finally, Geduld E E raised its stake in NeoPhotonics Corp. by 7.7% in the second quarter. Geduld E E now owns 35,000 shares of the company’s stock worth $334,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.
NeoPhotonics Corp. Company Profile
NeoPhotonics Corporation develops, manufactures and markets optoelectronic products that transmit, receive and switch digital optical signals for communications networks. The Company develops and manufactures Transmitter Products, Receiver Products and Switch Products that are used in ultra-high speed digital optical communications, high speed switching and provisioning, and access connections for wireless and fiber-to-the-home communications networks.
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