NeoPhotonics (NYSE:NPTN)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a research note issued to investors on Friday, TipRanks reports.
Other equities research analysts also recently issued reports about the company. TheStreet upgraded NeoPhotonics from a “d+” rating to a “c” rating in a research note on Friday, March 1st. MKM Partners began coverage on NeoPhotonics in a research note on Monday, April 29th. They set a “buy” rating and a $9.00 price target for the company. Zacks Investment Research upgraded NeoPhotonics from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Saturday, January 19th. ValuEngine upgraded NeoPhotonics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 2nd. Finally, Northland Securities restated a “buy” rating and set a $11.00 price target on shares of NeoPhotonics in a research note on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $8.75.
NYSE NPTN traded down $0.70 during trading hours on Friday, hitting $3.84. The company’s stock had a trading volume of 5,308,451 shares, compared to its average volume of 794,181. NeoPhotonics has a 12 month low of $3.26 and a 12 month high of $9.48. The company has a market capitalization of $265.83 million, a price-to-earnings ratio of -5.19 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.98.
NeoPhotonics (NYSE:NPTN) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.08). NeoPhotonics had a negative return on equity of 17.55% and a negative net margin of 11.85%. The business had revenue of $79.40 million during the quarter, compared to the consensus estimate of $79.99 million. During the same quarter in the previous year, the business posted ($0.33) earnings per share. NeoPhotonics’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts predict that NeoPhotonics will post -0.43 earnings per share for the current fiscal year.
In other news, CEO Timothy Storrs Jenks sold 16,999 shares of NeoPhotonics stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $6.62, for a total transaction of $112,533.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Chiyue Cheung sold 12,000 shares of NeoPhotonics stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $5.79, for a total value of $69,480.00. Following the transaction, the chief operating officer now directly owns 12,000 shares in the company, valued at $69,480. The disclosure for this sale can be found here. Insiders own 16.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of NPTN. Macquarie Group Ltd. purchased a new position in shares of NeoPhotonics during the 4th quarter valued at about $34,000. Quantamental Technologies LLC lifted its position in shares of NeoPhotonics by 49.5% during the 1st quarter. Quantamental Technologies LLC now owns 5,440 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 1,800 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of NeoPhotonics by 413.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,485 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 6,028 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of NeoPhotonics during the 4th quarter valued at about $73,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of NeoPhotonics by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,319 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 9,621 shares in the last quarter. 82.03% of the stock is currently owned by hedge funds and other institutional investors.
NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. It offers high speed products, including transmitter, receiver, and switching products for 100G (gigabits per second) and optical transmission applications over distances of 2 to 2,000 kilometers; optical components for coherent systems, including narrow linewidth tunable transmit and local oscillator lasers (NLW-ITLA) that generate ultra-pure wavelength or color for coherent transmission, as well as coherent micro-modulators, which encode the information on the intensity and phase of the optical beam; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent signals.
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