Zacks Investment Research Upgrades NeoPhotonics Corporation (NPTN) to Hold
NeoPhotonics Corporation (NYSE:NPTN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “NeoPhotonics Corporation is engaged in the design and manufacture of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. Products offered by the Company includes high-speed products that enable data transmission at 10Gbps, 40Gbps and 100Gbps, agility products such as ROADMs that dynamically allocate bandwidth to adjust for volatile traffic patterns, and access products that provide high-bandwidth connections to more devices and people over fixed and wireless networks. “
Several other research firms have also commented on NPTN. ValuEngine upgraded shares of NeoPhotonics Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Needham & Company LLC reiterated a “strong-buy” rating and issued a $13.00 price objective on shares of NeoPhotonics Corporation in a research report on Monday, June 12th. Rosenblatt Securities assumed coverage on shares of NeoPhotonics Corporation in a research report on Thursday, May 25th. They issued a “buy” rating and a $13.00 price objective on the stock. Northland Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of NeoPhotonics Corporation in a research report on Friday, June 23rd. Finally, B. Riley reiterated a “neutral” rating and issued a $6.25 price objective on shares of NeoPhotonics Corporation in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $10.22.
Shares of NeoPhotonics Corporation (NYSE:NPTN) opened at 6.07 on Tuesday. The firm’s market capitalization is $264.88 million. The stock has a 50 day moving average of $7.76 and a 200-day moving average of $8.86. NeoPhotonics Corporation has a 12 month low of $5.77 and a 12 month high of $18.51.
NeoPhotonics Corporation (NYSE:NPTN) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.10. NeoPhotonics Corporation had a negative net margin of 7.28% and a negative return on equity of 9.43%. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $71.11 million. During the same period in the previous year, the firm earned $0.15 EPS. The business’s revenue for the quarter was down 26.1% compared to the same quarter last year. On average, equities research analysts anticipate that NeoPhotonics Corporation will post ($0.59) EPS for the current fiscal year.
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In other news, SVP Benjamin Lee Sitler sold 33,400 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $8.44, for a total transaction of $281,896.00. Following the completion of the transaction, the senior vice president now owns 84,711 shares of the company’s stock, valued at approximately $714,960.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael J. Sophie sold 4,000 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $8.45, for a total transaction of $33,800.00. Following the transaction, the director now directly owns 18,318 shares of the company’s stock, valued at approximately $154,787.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 359,300 shares of company stock valued at $3,243,816. Corporate insiders own 17.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Quentec Asset Management LLC boosted its position in NeoPhotonics Corporation by 78.9% in the second quarter. Quentec Asset Management LLC now owns 1,934,017 shares of the semiconductor company’s stock worth $14,931,000 after buying an additional 853,181 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in NeoPhotonics Corporation by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock worth $27,719,000 after buying an additional 760,110 shares in the last quarter. Kennedy Capital Management Inc. bought a new position in NeoPhotonics Corporation during the second quarter worth $4,630,000. Marshall Wace North America L.P. boosted its position in NeoPhotonics Corporation by 1,394.9% in the second quarter. Marshall Wace North America L.P. now owns 613,493 shares of the semiconductor company’s stock worth $4,908,000 after buying an additional 572,453 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in NeoPhotonics Corporation by 18.9% in the first quarter. Wellington Management Group LLP now owns 2,767,194 shares of the semiconductor company’s stock worth $24,933,000 after buying an additional 440,640 shares in the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.
NeoPhotonics Corporation 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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