NeoPhotonics Corp. (NPTN) Receives Average Rating of “Buy” from Analysts
Shares of NeoPhotonics Corp. (NYSE:NPTN) have earned a consensus rating of “Buy” from the eight analysts that are presently covering the stock. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.65.
Several equities analysts have recently weighed in on the company. Craig Hallum restated a “buy” rating on shares of NeoPhotonics Corp. in a research report on Sunday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of NeoPhotonics Corp. in a research report on Thursday, August 18th. TheStreet upgraded NeoPhotonics Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. B. Riley reiterated a “neutral” rating and set a $12.75 price objective on shares of NeoPhotonics Corp. in a research report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $17.00 price objective on shares of NeoPhotonics Corp. in a research report on Wednesday, September 7th.
In other news, CEO Timothy Storrs Jenks sold 22,666 shares of NeoPhotonics Corp. stock in a transaction on Thursday, August 18th. The stock was 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 directly owns 193,157 shares of the company’s stock, valued at $2,905,081.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Chiyue Cheung sold 18,000 shares of NeoPhotonics Corp. stock in a transaction on Monday, July 25th. The shares were sold at an average price of $12.82, for a total value of $230,760.00. Following the completion of the sale, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $76,920. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.
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Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new stake in shares of NeoPhotonics Corp. during the first quarter worth $1,811,000. Landscape Capital Management L.L.C. purchased a new stake in shares of NeoPhotonics Corp. during the first quarter worth $662,000. Spark Investment Management LLC purchased a new stake in shares of NeoPhotonics Corp. during the first quarter worth $592,000. Wellington Management Group LLP purchased a new stake in shares of NeoPhotonics Corp. during the first quarter worth $11,871,000. Finally, Friess Associates LLC purchased a new stake in shares of NeoPhotonics Corp. during the first quarter worth $814,000. 78.98% of the stock is owned by institutional investors and hedge funds.
NeoPhotonics Corp. (NYSE:NPTN) traded up 1.08% during trading on Monday, hitting $14.93. The stock had a trading volume of 228,596 shares. The company’s 50 day moving average is $16.30 and its 200-day moving average is $12.74. NeoPhotonics Corp. has a 12 month low of $7.16 and a 12 month high of $18.51. The company has a market cap of $624.30 million, a PE ratio of 98.22 and a beta of 0.77.
NeoPhotonics Corp. (NYSE:NPTN) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $99.13 million for the quarter, compared to the consensus estimate of $101.82 million. NeoPhotonics Corp. had a return on equity of 7.67% and a net margin of 1.82%. NeoPhotonics Corp.’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 earnings per share. On average, equities research analysts predict that NeoPhotonics Corp. will post $0.68 earnings per share for the current year.
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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