NeoPhotonics Corp (NPTN) Receives Average Recommendation of “Hold” from Analysts
Shares of NeoPhotonics Corp (NYSE:NPTN) have received a consensus recommendation of “Hold” from the thirteen research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.88.
Several research analysts have recently commented on the company. B. Riley reissued a “neutral” rating and issued a $6.25 target price on shares of NeoPhotonics in a report on Wednesday, August 9th. DA Davidson set a $7.00 price objective on NeoPhotonics and gave the stock a “hold” rating in a report on Thursday. ValuEngine raised NeoPhotonics from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Zacks Investment Research raised NeoPhotonics from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, Cowen reaffirmed a “buy” rating and set a $11.00 price objective on shares of NeoPhotonics in a report on Sunday, October 1st.
NeoPhotonics (NPTN) traded up $0.17 during mid-day trading on Thursday, hitting $6.57. The stock had a trading volume of 1,017,089 shares, compared to its average volume of 1,306,877. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.85. NeoPhotonics has a 52 week low of $4.56 and a 52 week high of $14.00.
A number of large investors have recently bought and sold shares of the business. Granite Point Capital Management L.P. lifted its stake in shares of NeoPhotonics by 8.8% in the 3rd quarter. Granite Point Capital Management L.P. now owns 458,302 shares of the semiconductor company’s stock valued at $2,548,000 after purchasing an additional 36,998 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of NeoPhotonics by 26.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock valued at $27,719,000 after purchasing an additional 760,110 shares during the period. Victory Capital Management Inc. lifted its stake in shares of NeoPhotonics by 37.2% in the 2nd quarter. Victory Capital Management Inc. now owns 165,367 shares of the semiconductor company’s stock valued at $1,277,000 after purchasing an additional 44,803 shares during the period. Royce & Associates LP lifted its stake in shares of NeoPhotonics by 12.8% in the 2nd quarter. Royce & Associates LP now owns 1,767,528 shares of the semiconductor company’s stock valued at $13,645,000 after purchasing an additional 200,900 shares during the period. Finally, Boston Partners acquired a new position in shares of NeoPhotonics in the 3rd quarter valued at $1,884,000. 81.06% of the stock is currently owned by hedge funds and other institutional investors.
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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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