$72.70 Million in Sales Expected for NeoPhotonics Corp (NPTN) This Quarter

Brokerages expect NeoPhotonics Corp (NYSE:NPTN) to announce sales of $72.70 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for NeoPhotonics’ earnings, with the highest sales estimate coming in at $73.70 million and the lowest estimate coming in at $71.90 million. NeoPhotonics reported sales of $109.84 million in the same quarter last year, which indicates a negative year over year growth rate of 33.8%. The firm is expected to report its next earnings report on Tuesday, March 13th.

On average, analysts expect that NeoPhotonics will report full-year sales of $72.70 million for the current financial year, with estimates ranging from $287.10 million to $289.70 million. For the next financial year, analysts forecast that the firm will post sales of $319.53 million per share, with estimates ranging from $294.00 million to $350.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for NeoPhotonics.

NPTN has been the subject of several analyst reports. Rosenblatt Securities set a $13.00 target price on shares of NeoPhotonics and gave the stock a “buy” rating in a report on Tuesday, December 12th. ValuEngine raised shares of NeoPhotonics from a “sell” rating to a “hold” rating in a report on Friday, December 1st. DA Davidson increased their target price on shares of NeoPhotonics to $6.50 and gave the stock a “neutral” rating in a report on Wednesday, December 6th. Zacks Investment Research raised shares of NeoPhotonics from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, B. Riley reissued a “hold” rating and issued a $5.00 target price (down from $5.25) on shares of NeoPhotonics in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $8.67.

Institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its holdings 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 acquiring an additional 2,749 shares in the last quarter. Citigroup Inc. grew its holdings in NeoPhotonics by 35.7% during the 2nd quarter. Citigroup Inc. now owns 17,314 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 4,556 shares in the last quarter. Virtu Financial LLC purchased a new stake in NeoPhotonics during the 4th quarter valued at approximately $131,000. Ameriprise Financial Inc. purchased a new stake in NeoPhotonics during the 2nd quarter valued at approximately $159,000. Finally, The Manufacturers Life Insurance Company grew its holdings in NeoPhotonics by 13.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,099 shares of the semiconductor company’s stock valued at $210,000 after buying an additional 3,245 shares in the last quarter. 82.03% of the stock is owned by institutional investors.

Shares of NeoPhotonics (NYSE NPTN) opened at $5.82 on Friday. NeoPhotonics has a 52-week low of $4.56 and a 52-week high of $12.44. The company has a market cap of $264.39, a PE ratio of -6.85 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.85.

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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.

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