NeoPhotonics (NYSE:NPTN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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 equities analysts have also recently commented on the company. Rosenblatt Securities set a $13.00 price target on NeoPhotonics and gave the company a “buy” rating in a report on Saturday. ValuEngine raised NeoPhotonics from a “sell” rating to a “hold” rating in a report on Friday. Needham & Company LLC reissued a “strong-buy” rating and issued a $9.00 target price (up from $8.00) on shares of NeoPhotonics in a report on Friday, March 2nd. B. Riley reissued a “neutral” rating and issued a $5.75 target price (up from $5.00) on shares of NeoPhotonics in a report on Friday, March 2nd. Finally, Piper Jaffray Companies cut NeoPhotonics from an “overweight” rating to a “neutral” rating in a report on Monday, January 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. NeoPhotonics presently has an average rating of “Hold” and an average target price of $8.86.
NeoPhotonics (NYSE:NPTN) last posted its quarterly earnings results on Thursday, March 1st. The semiconductor company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05). The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.15 million. NeoPhotonics had a negative net margin of 18.21% and a negative return on equity of 22.06%. The company’s revenue was down 30.0% on a year-over-year basis. During the same period last year, the company earned $0.13 EPS. sell-side analysts anticipate that NeoPhotonics will post -0.54 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC grew its position in NeoPhotonics by 20.0% during 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 during the last quarter. Virtu Financial LLC bought a new stake in NeoPhotonics during the 4th quarter worth approximately $131,000. Ameriprise Financial Inc. bought a new stake in NeoPhotonics during the 2nd quarter worth approximately $159,000. Raymond James & Associates bought a new stake in NeoPhotonics during the 4th quarter worth approximately $160,000. Finally, The Manufacturers Life Insurance Company grew its position 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 worth $210,000 after acquiring an additional 3,245 shares during the last quarter. Institutional investors and hedge funds own 78.12% of the company’s stock.
NeoPhotonics 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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