Traders Purchase Large Volume of NeoPhotonics Put Options (NYSE:NPTN)

NeoPhotonics Corp (NYSE:NPTN) saw some unusual options trading activity on Monday. Investors bought 3,652 put options on the stock. This represents an increase of 4,465% compared to the typical daily volume of 80 put options.

A number of brokerages have weighed in on NPTN. ValuEngine cut NeoPhotonics from a “buy” rating to a “hold” rating in a research note on Tuesday. B. Riley lowered shares of NeoPhotonics from a “buy” rating to a “neutral” rating and set a $6.50 target price on the stock. in a research report on Wednesday, September 18th. DA Davidson set a $7.00 target price on shares of NeoPhotonics and gave the company a “hold” rating in a report on Friday, November 1st. Northland Securities reaffirmed a “buy” rating on shares of NeoPhotonics in a report on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of NeoPhotonics in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $7.82.

Shares of NPTN stock opened at $7.80 on Tuesday. The stock has a market capitalization of $395.58 million, a PE ratio of -10.54 and a beta of 1.73. NeoPhotonics has a 52-week low of $3.26 and a 52-week high of $8.73. The stock’s 50-day moving average price is $7.44 and its 200 day moving average price is $5.73. The company has a quick ratio of 1.63, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

NeoPhotonics (NYSE:NPTN) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.16. NeoPhotonics had a negative return on equity of 9.10% and a negative net margin of 7.51%. The company had revenue of $92.39 million during the quarter, compared to analysts’ expectations of $89.77 million. During the same period last year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts expect that NeoPhotonics will post -0.28 earnings per share for the current fiscal year.

In other news, COO Chiyue Cheung sold 6,000 shares of NeoPhotonics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $7.80, for a total transaction of $46,800.00. Following the sale, the chief operating officer now owns 6,000 shares in the company, valued at $46,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy Storrs Jenks sold 24,732 shares of NeoPhotonics stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $8.47, for a total value of $209,480.04. Following the sale, the chief executive officer now owns 429,175 shares in the company, valued at approximately $3,635,112.25. The disclosure for this sale can be found here. Insiders sold 45,995 shares of company stock worth $386,473 over the last quarter. 16.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. AlphaOne Investment Services LLC purchased a new position in NeoPhotonics in the 2nd quarter valued at $1,937,000. Paradigm Capital Management Inc. NY raised its position in NeoPhotonics by 16.4% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,529,400 shares of the semiconductor company’s stock worth $6,393,000 after buying an additional 215,815 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of NeoPhotonics by 49.7% in the 2nd quarter. Acadian Asset Management LLC now owns 268,379 shares of the semiconductor company’s stock worth $1,122,000 after acquiring an additional 89,064 shares during the period. BlackRock Inc. lifted its stake in shares of NeoPhotonics by 5.7% in the 2nd quarter. BlackRock Inc. now owns 2,666,274 shares of the semiconductor company’s stock worth $11,146,000 after acquiring an additional 143,596 shares during the period. Finally, Masters Capital Management LLC boosted its holdings in shares of NeoPhotonics by 50.1% in the third quarter. Masters Capital Management LLC now owns 1,500,537 shares of the semiconductor company’s stock valued at $9,138,000 after acquiring an additional 500,537 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

About NeoPhotonics

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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