Zacks Investment Research Downgrades NeoPhotonics Corporation (NPTN) to Sell
NeoPhotonics Corporation (NYSE:NPTN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
A number of other equities analysts have also recently commented on NPTN. B. Riley reaffirmed a “neutral” rating and set a $6.25 price target on shares of NeoPhotonics Corporation in a research note on Friday, August 4th. ValuEngine raised shares of NeoPhotonics Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $8.50 price target on shares of NeoPhotonics Corporation in a research note on Friday, August 4th. Craig Hallum reaffirmed a “buy” rating and set a $8.50 price target on shares of NeoPhotonics Corporation in a research note on Friday, October 6th. Finally, BidaskClub cut shares of NeoPhotonics Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $8.92.
NeoPhotonics Corporation (NYSE:NPTN) opened at 4.85 on Wednesday. The company’s market capitalization is $211.64 million. The company has a 50-day moving average of $5.82 and a 200-day moving average of $7.54. NeoPhotonics Corporation has a 1-year low of $4.72 and a 1-year high of $15.68.
NeoPhotonics Corporation (NYSE:NPTN) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $71.11 million. During the same period in the previous year, the company earned $0.15 EPS. The firm’s revenue for the quarter was down 26.1% compared to the same quarter last year. Equities analysts expect that NeoPhotonics Corporation will post ($0.84) EPS for the current fiscal year.
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In other news, Director Michael J. Sophie sold 4,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $8.45, for a total value of $33,800.00. Following the completion of the sale, the director now owns 18,318 shares in the company, valued at approximately $154,787.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Benjamin Lee Sitler sold 33,400 shares of the business’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 sale, the senior vice president now owns 84,711 shares of the company’s stock, valued at approximately $714,960.84. The disclosure for this sale can be found here. Company insiders own 17.30% of the company’s stock.
Several large investors have recently bought and sold shares of NPTN. Paloma Partners Management Co bought a new stake in shares of NeoPhotonics Corporation in the 1st quarter valued at about $103,000. Voya Investment Management LLC raised its holdings in shares of NeoPhotonics Corporation by 20.0% in the 2nd quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 2,749 shares in the last quarter. Parametric Portfolio Associates LLC bought a new stake in shares of NeoPhotonics Corporation in the 1st quarter valued at about $131,000. Citigroup Inc. raised its holdings in shares of NeoPhotonics Corporation by 35.7% in the 2nd quarter. Citigroup Inc. now owns 17,314 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 4,556 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of NeoPhotonics Corporation in the 2nd quarter valued at about $159,000. Institutional investors and hedge funds own 85.34% of the company’s stock.
About NeoPhotonics Corporation
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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