NeoPhotonics (NYSE:NPTN) Stock Rating Reaffirmed by Rosenblatt Securities

Rosenblatt Securities reaffirmed their hold rating on shares of NeoPhotonics (NYSE:NPTN) in a research report report published on Tuesday morning, AnalystRatings.com reports. They currently have a $10.00 price objective on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the stock. Craig Hallum cut their price target on shares of NeoPhotonics from $12.00 to $10.00 and set a buy rating on the stock in a report on Monday, May 18th. B. Riley lowered shares of NeoPhotonics from a buy rating to a neutral rating and set a $10.00 price target on the stock. in a report on Tuesday, June 16th. JPMorgan Chase & Co. initiated coverage on shares of NeoPhotonics in a research report on Tuesday, April 14th. They set an overweight rating and a $11.00 price objective on the stock. Piper Sandler boosted their price objective on shares of NeoPhotonics from $9.00 to $14.00 and gave the company an overweight rating in a research report on Friday, May 1st. Finally, Needham & Company LLC reaffirmed a buy rating and set a $12.00 price objective on shares of NeoPhotonics in a research report on Wednesday, August 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $10.78.

NPTN stock opened at $8.23 on Tuesday. NeoPhotonics has a 52-week low of $4.65 and a 52-week high of $10.34. The company’s 50 day simple moving average is $8.67 and its 200-day simple moving average is $8.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.31 and a quick ratio of 1.85. The firm has a market capitalization of $386.07 million, a P/E ratio of 25.72 and a beta of 1.53.

NeoPhotonics (NYSE:NPTN) last released its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.04. NeoPhotonics had a net margin of 4.13% and a return on equity of 10.45%. The business had revenue of $103.20 million for the quarter, compared to analyst estimates of $99.20 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. The firm’s revenue was up 25.9% compared to the same quarter last year. Sell-side analysts predict that NeoPhotonics will post 0.31 EPS for the current fiscal year.

In other NeoPhotonics news, CEO Timothy Storrs Jenks sold 25,424 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $10.25, for a total value of $260,596.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chiyue Cheung sold 12,667 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $8.87, for a total transaction of $112,356.29. Following the completion of the sale, the chief operating officer now directly owns 10,000 shares of the company’s stock, valued at $88,700. The disclosure for this sale can be found here. Insiders sold 48,891 shares of company stock valued at $477,604 over the last three months. Insiders own 4.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its position in NeoPhotonics by 19.4% in the second quarter. Russell Investments Group Ltd. now owns 4,179,499 shares of the semiconductor company’s stock worth $37,055,000 after acquiring an additional 678,787 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of NeoPhotonics by 35.5% in the second quarter. Vanguard Group Inc. now owns 3,122,861 shares of the semiconductor company’s stock worth $27,731,000 after buying an additional 817,809 shares during the last quarter. BlackRock Inc. lifted its stake in shares of NeoPhotonics by 2.5% in the first quarter. BlackRock Inc. now owns 2,826,081 shares of the semiconductor company’s stock worth $20,490,000 after buying an additional 68,259 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of NeoPhotonics by 12.9% in the first quarter. Nuveen Asset Management LLC now owns 1,926,426 shares of the semiconductor company’s stock worth $13,967,000 after buying an additional 220,438 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its stake in shares of NeoPhotonics by 0.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,895,300 shares of the semiconductor company’s stock worth $16,830,000 after buying an additional 11,900 shares during the last quarter. 85.47% of the stock is owned by institutional investors.

NeoPhotonics Company Profile

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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