NeoPhotonics (NPTN) Cut to Neutral at Piper Jaffray Companies

NeoPhotonics (NYSE:NPTN) was downgraded by equities research analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a report issued on Monday, Marketbeat reports.

Several other equities analysts have also recently commented on the stock. B. Riley reaffirmed a “hold” rating and set a $5.25 price objective on shares of NeoPhotonics in a research note on Friday, October 6th. Raymond James Financial cut shares of NeoPhotonics from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 5th. UBS Group cut shares of NeoPhotonics from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 5th. Cowen reaffirmed a “buy” rating and set a $11.00 price objective on shares of NeoPhotonics in a research note on Sunday, October 1st. Finally, Zacks Investment Research raised shares of NeoPhotonics from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. NeoPhotonics has an average rating of “Hold” and an average target price of $8.67.

NeoPhotonics (NYSE:NPTN) traded down $0.47 on Monday, hitting $6.08. 1,206,484 shares of the stock traded hands, compared to its average volume of 678,620. The stock has a market capitalization of $287.84, a P/E ratio of -6.99 and a beta of 1.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.25. NeoPhotonics has a 52-week low of $4.56 and a 52-week high of $12.44.

NeoPhotonics (NYSE:NPTN) last posted its earnings results on Monday, November 6th. The semiconductor company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.09. The firm had revenue of $71.12 million during the quarter, compared to the consensus estimate of $69.94 million. NeoPhotonics had a negative net margin of 11.37% and a negative return on equity of 13.61%. The company’s revenue was down 31.2% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. research analysts expect that NeoPhotonics will post -0.99 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in NeoPhotonics by 0.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 96,999 shares of the semiconductor company’s stock worth $749,000 after buying an additional 433 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in NeoPhotonics by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 114,544 shares of the semiconductor company’s stock worth $885,000 after buying an additional 722 shares in the last quarter. Teachers Advisors LLC grew its stake in NeoPhotonics by 5.1% in the 2nd quarter. Teachers Advisors LLC now owns 55,616 shares of the semiconductor company’s stock worth $429,000 after buying an additional 2,677 shares in the last quarter. Voya Investment Management LLC grew its stake in NeoPhotonics by 20.0% in the 2nd quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock worth $127,000 after buying an additional 2,749 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of NeoPhotonics by 8.4% in the 2nd quarter. Rhumbline Advisers now owns 38,504 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 3,000 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

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About NeoPhotonics

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.

Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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