NeoPhotonics (NPTN) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of NeoPhotonics (NYSE:NPTN) from a buy rating to a hold rating in a research report report published on Friday.

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. “

A number of other brokerages have also issued reports on NPTN. B. Riley increased their target price on shares of NeoPhotonics from $10.00 to $11.00 and gave the company a buy rating in a research report on Monday, November 5th. Craig Hallum set a $10.00 target price on shares of NeoPhotonics and gave the company a buy rating in a research report on Monday, November 5th. ValuEngine upgraded shares of NeoPhotonics from a hold rating to a buy rating in a research report on Friday, August 3rd. Rosenblatt Securities set a $13.00 target price on shares of NeoPhotonics and gave the company a buy rating in a research report on Saturday, July 28th. Finally, DA Davidson increased their target price on shares of NeoPhotonics from $6.00 to $7.50 and gave the company a neutral rating in a research report on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. NeoPhotonics presently has a consensus rating of Buy and a consensus target price of $9.88.

Shares of NPTN stock traded up $0.01 during trading hours on Friday, reaching $8.65. The stock had a trading volume of 894,447 shares, compared to its average volume of 693,249. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.31. NeoPhotonics has a twelve month low of $4.95 and a twelve month high of $9.48.

NeoPhotonics (NYSE:NPTN) last released its quarterly earnings data on Friday, November 2nd. The semiconductor company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.14. NeoPhotonics had a negative net margin of 16.60% and a negative return on equity of 26.53%. The business had revenue of $81.75 million for the quarter, compared to analysts’ expectations of $82.60 million. During the same quarter last year, the company earned ($0.14) EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, analysts forecast that NeoPhotonics will post -0.82 EPS for the current fiscal year.

In other news, COO Chiyue Cheung sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $8.11, for a total transaction of $81,100.00. Following the completion of the transaction, the chief operating officer now owns 5,000 shares in the company, valued at approximately $40,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Yuen Wupen sold 22,877 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $8.91, for a total transaction of $203,834.07. Following the transaction, the vice president now owns 48,265 shares of the company’s stock, valued at approximately $430,041.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,877 shares of company stock valued at $292,984. Insiders own 16.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of NPTN. JPMorgan Chase & Co. lifted its stake in NeoPhotonics by 485.2% during the first quarter. JPMorgan Chase & Co. now owns 57,695 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 47,836 shares in the last quarter. Bank of Montreal Can lifted its stake in NeoPhotonics by 30.9% during the second quarter. Bank of Montreal Can now owns 69,061 shares of the semiconductor company’s stock valued at $431,000 after buying an additional 16,309 shares in the last quarter. Pier 88 Investment Partners LLC lifted its stake in NeoPhotonics by 43.0% during the second quarter. Pier 88 Investment Partners LLC now owns 147,726 shares of the semiconductor company’s stock valued at $920,000 after buying an additional 44,455 shares in the last quarter. Northpointe Capital LLC lifted its stake in NeoPhotonics by 46.3% during the second quarter. Northpointe Capital LLC now owns 768,607 shares of the semiconductor company’s stock valued at $4,788,000 after buying an additional 243,228 shares in the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in NeoPhotonics by 14.2% during the second quarter. State of Wisconsin Investment Board now owns 250,000 shares of the semiconductor company’s stock valued at $1,558,000 after buying an additional 31,000 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

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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