NeoPhotonics (NYSE:NPTN) Rating Increased to Buy at Needham & Company LLC

Needham & Company LLC upgraded shares of NeoPhotonics (NYSE:NPTN) from a hold rating to a buy rating in a report published on Wednesday, Benzinga reports. The brokerage currently has $11.00 price objective on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on NPTN. ValuEngine downgraded NeoPhotonics from a buy rating to a hold rating in a report on Tuesday, December 3rd. TheStreet raised NeoPhotonics from a d+ rating to a c- rating in a report on Thursday, November 21st. DA Davidson set a $7.00 target price on NeoPhotonics and gave the company a hold rating in a report on Friday, November 1st. Finally, Zacks Investment Research raised NeoPhotonics from a hold rating to a buy rating and set a $7.25 target price on the stock in a report on Saturday, November 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $8.66.

NYSE:NPTN traded up $0.40 during trading hours on Wednesday, reaching $8.98. 1,983,200 shares of the company were exchanged, compared to its average volume of 822,057. The company has a market capitalization of $413.91 million, a P/E ratio of -16.00 and a beta of 1.74. NeoPhotonics has a 1-year low of $3.26 and a 1-year high of $9.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.63. The business has a 50 day moving average of $8.55 and a 200 day moving average of $6.85.

NeoPhotonics (NYSE:NPTN) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.16. The business had revenue of $92.39 million for the quarter, compared to the consensus estimate of $89.77 million. NeoPhotonics had a negative return on equity of 9.10% and a negative net margin of 7.51%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) earnings per share. As a group, equities research analysts anticipate 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 the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $7.80, for a total value of $46,800.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $46,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy Storrs Jenks sold 24,732 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $8.47, for a total value of $209,480.04. Following the completion of the transaction, the chief executive officer now owns 429,175 shares of the company’s stock, valued at $3,635,112.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,111 shares of company stock worth $620,317. Company insiders own 16.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC lifted its stake in shares of NeoPhotonics by 84.6% in the 3rd quarter. Squarepoint Ops LLC now owns 109,300 shares of the semiconductor company’s stock valued at $666,000 after acquiring an additional 50,100 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of NeoPhotonics by 3.2% in the 3rd quarter. California State Teachers Retirement System now owns 60,285 shares of the semiconductor company’s stock valued at $367,000 after acquiring an additional 1,893 shares during the last quarter. State Street Corp lifted its stake in shares of NeoPhotonics by 5.0% in the 3rd quarter. State Street Corp now owns 648,572 shares of the semiconductor company’s stock valued at $3,950,000 after acquiring an additional 31,079 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in shares of NeoPhotonics in the 3rd quarter valued at $80,000. Finally, Masters Capital Management LLC raised its position in NeoPhotonics by 50.1% during the 3rd quarter. Masters Capital Management LLC now owns 1,500,537 shares of the semiconductor company’s stock worth $9,138,000 after purchasing an additional 500,537 shares during the last quarter. Institutional investors own 75.00% 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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Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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