NeoPhotonics Corp. (NPTN) Rating Reiterated by Piper Jaffray Cos.
NeoPhotonics Corp. (NYSE:NPTN)‘s stock had its “overweight” rating reaffirmed by analysts at Piper Jaffray Cos. in a report released 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 points to a potential upside of 23.08% from the stock’s previous close.
NPTN has been the topic of several other research reports. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price 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 target price 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 assigned a buy rating and two have assigned a strong buy rating to the stock. NeoPhotonics Corp. presently has an average rating of “Buy” and a consensus target price of $15.71.
NeoPhotonics Corp. (NYSE:NPTN) traded down 0.37% on Friday, hitting $16.25. The stock had a trading volume of 522,856 shares. NeoPhotonics Corp. has a one year low of $6.68 and a one year high of $18.51. The stock’s 50 day moving average is $16.28 and its 200 day moving average is $12.64. The stock has a market cap of $679.49 million, a price-to-earnings ratio of 106.91 and a beta of 0.77.
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NeoPhotonics Corp. (NYSE:NPTN) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share 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 firm had revenue of $99.13 million for the quarter, compared to analyst estimates of $101.82 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. NeoPhotonics Corp.’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts anticipate that NeoPhotonics Corp. will post $0.68 earnings per share for the current year.
In related news, CEO Timothy Storrs Jenks sold 22,666 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $15.04, for a total transaction of $340,896.64. Following the transaction, the chief executive officer now directly owns 193,157 shares in the company, valued at $2,905,081.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ray Wallin sold 10,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $14.55, for a total value of $145,500.00. Following the transaction, the chief financial officer now owns 28,500 shares in the company, valued at $414,675. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Capital Fund Management S.A. purchased a new stake in shares of NeoPhotonics Corp. during the second quarter valued at approximately $103,000. Quantbot Technologies LP raised its stake in shares of NeoPhotonics Corp. by 132.4% in the second quarter. Quantbot Technologies LP now owns 11,149 shares of the company’s stock valued at $106,000 after buying an additional 6,352 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of NeoPhotonics Corp. during the second quarter valued at approximately $124,000. BlackRock Inc. raised its stake in shares of NeoPhotonics Corp. by 462.4% in the second quarter. BlackRock Inc. now owns 15,517 shares of the company’s stock valued at $148,000 after buying an additional 12,758 shares in the last quarter. Finally, American International Group Inc. raised its stake in shares of NeoPhotonics Corp. by 8.5% in the second quarter. American International Group Inc. now owns 17,747 shares of the company’s stock valued at $169,000 after buying an additional 1,395 shares in the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.
About NeoPhotonics Corp.
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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