NeoPhotonics Corporation (NYSE:NPTN) has received a consensus rating of “Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $13.04.
NPTN has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of NeoPhotonics Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 21st. B. Riley reiterated a “neutral” rating and set a $10.00 price target on shares of NeoPhotonics Corporation in a report on Saturday, March 11th. Needham & Company LLC lowered their price target on shares of NeoPhotonics Corporation from $17.00 to $13.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 15th. Cowen and Company lowered their price target on shares of NeoPhotonics Corporation from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, March 15th. Finally, Rosenblatt Securities initiated coverage on shares of NeoPhotonics Corporation in a report on Thursday, May 25th. They set a “buy” rating and a $13.00 price target for the company.
In other NeoPhotonics Corporation news, major shareholder Rusnano sold 39,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $9.07, for a total value of $353,730.00. Following the completion of the transaction, the insider now directly owns 4,687,005 shares in the company, valued at approximately $42,511,135.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy Storrs Jenks sold 92,125 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $7.35, for a total transaction of $677,118.75. Following the completion of the transaction, the chief executive officer now owns 327,388 shares of the company’s stock, valued at $2,406,301.80. The disclosure for this sale can be found here. Insiders sold a total of 404,025 shares of company stock valued at $3,528,639 over the last 90 days. Company insiders own 16.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of NeoPhotonics Corporation by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 52,939 shares of the semiconductor company’s stock valued at $572,000 after buying an additional 874 shares during the period. American International Group Inc. increased its stake in NeoPhotonics Corporation by 7.1% in the first quarter. American International Group Inc. now owns 18,979 shares of the semiconductor company’s stock worth $171,000 after buying an additional 1,252 shares in the last quarter. WFG Advisors LP increased its stake in NeoPhotonics Corporation by 74.9% in the fourth quarter. WFG Advisors LP now owns 4,023 shares of the semiconductor company’s stock worth $297,000 after buying an additional 1,723 shares in the last quarter. RidgeWorth Capital Management LLC increased its stake in NeoPhotonics Corporation by 27.2% in the fourth quarter. RidgeWorth Capital Management LLC now owns 18,587 shares of the semiconductor company’s stock worth $201,000 after buying an additional 3,980 shares in the last quarter. Finally, Argent Capital Management LLC increased its stake in NeoPhotonics Corporation by 2.4% in the first quarter. Argent Capital Management LLC now owns 249,425 shares of the semiconductor company’s stock worth $2,247,000 after buying an additional 5,800 shares in the last quarter. Institutional investors and hedge funds own 84.51% of the company’s stock.
NeoPhotonics Corporation (NPTN) traded up 0.23% during midday trading on Tuesday, hitting $8.87. 1,851,871 shares of the stock traded hands. The company’s market capitalization is $382.10 million. NeoPhotonics Corporation has a 52 week low of $6.90 and a 52 week high of $18.51. The stock’s 50-day moving average price is $8.62 and its 200 day moving average price is $9.94.
NeoPhotonics Corporation (NYSE:NPTN) last posted its quarterly earnings results on Friday, May 5th. The semiconductor company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.02. NeoPhotonics Corporation had a negative net margin of 3.66% and a negative return on equity of 3.51%. The firm had revenue of $71.70 million for the quarter, compared to the consensus estimate of $70.05 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s quarterly revenue was down 27.6% compared to the same quarter last year. On average, equities research analysts predict that NeoPhotonics Corporation will post ($0.51) EPS for the current year.
About NeoPhotonics Corporation
NeoPhotonics Corporation develops, manufactures and markets optoelectronic products that transmit, receive and switch digital optical signals for communications networks. The Company develops and manufactures Transmitter Products, Receiver Products and Switch Products that are used in ultra-high speed digital optical communications, high speed switching and provisioning, and access connections for wireless and fiber-to-the-home communications networks.
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