NeoPhotonics Corp (NPTN) Major Shareholder Rusnano Sells 92,900 Shares
NeoPhotonics Corp (NYSE:NPTN) major shareholder Rusnano sold 92,900 shares of NeoPhotonics Corp stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $9.10, for a total value of $845,390.00. Following the completion of the transaction, the insider now owns 4,884,405 shares of the company’s stock, valued at approximately $44,448,085.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
NeoPhotonics Corp (NYSE:NPTN) traded up 1.13% during mid-day trading on Thursday, hitting $8.95. The stock had a trading volume of 1,972,697 shares. The stock has a 50 day moving average of $8.21 and a 200-day moving average of $10.34. NeoPhotonics Corp has a 1-year low of $6.90 and a 1-year high of $18.51. The firm’s market cap is $385.55 million.
NeoPhotonics Corp (NYSE:NPTN) last issued its quarterly earnings data on Friday, May 5th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by $0.02. The company had revenue of $71.70 million during the quarter, compared to analysts’ expectations of $70.05 million. NeoPhotonics Corp had a negative net margin of 0.46% and a positive return on equity of 4.18%. The firm’s quarterly revenue was down 27.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. Analysts predict that NeoPhotonics Corp will post ($0.56) EPS for the current fiscal year.
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NPTN has been the subject of a number of analyst reports. B. Riley restated a “neutral” rating and set a $6.25 price objective on shares of NeoPhotonics Corp in a research report on Tuesday, May 9th. Zacks Investment Research upgraded NeoPhotonics Corp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 21st. Rosenblatt Securities began coverage on NeoPhotonics Corp in a research note on Thursday. They set a “buy” rating and a $13.00 target price on the stock. Needham & Company LLC cut their target price on NeoPhotonics Corp from $17.00 to $13.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 15th. Finally, Cowen and Company began coverage on NeoPhotonics Corp in a research note on Monday, January 30th. They set an “outperform” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $13.04.
A number of hedge funds have recently modified their holdings of NPTN. Paloma Partners Management Co bought a new stake in shares of NeoPhotonics Corp during the first quarter valued at about $103,000. TFS Capital LLC bought a new stake in shares of NeoPhotonics Corp during the first quarter valued at about $110,000. Parametric Portfolio Associates LLC bought a new stake in shares of NeoPhotonics Corp during the first quarter valued at about $131,000. American International Group Inc. raised its stake in shares of NeoPhotonics Corp by 7.1% in the first quarter. American International Group Inc. now owns 18,979 shares of the semiconductor company’s stock valued at $171,000 after buying an additional 1,252 shares during the period. Finally, RidgeWorth Capital Management LLC raised its stake in shares of NeoPhotonics Corp by 27.2% in the fourth quarter. RidgeWorth Capital Management LLC now owns 18,587 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 3,980 shares during the period. Hedge funds and other institutional investors own 80.14% 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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