NeoPhotonics Co. (NYSE:NPTN) Receives Average Rating of “Buy” from Brokerages

NeoPhotonics Co. (NYSE:NPTN) has been assigned a consensus recommendation of “Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $13.88.

A number of research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of NeoPhotonics in a report on Monday. MKM Partners boosted their target price on NeoPhotonics from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 4th. Raymond James upgraded NeoPhotonics from an “underperform” rating to a “market perform” rating in a research note on Thursday, September 9th. Zacks Investment Research downgraded NeoPhotonics from a “hold” rating to a “sell” rating in a research note on Thursday, August 5th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $16.00 target price on shares of NeoPhotonics in a research note on Friday, September 10th.

Shares of NPTN traded down $0.09 during midday trading on Friday, reaching $8.98. The stock had a trading volume of 3,516 shares, compared to its average volume of 710,279. NeoPhotonics has a 52 week low of $5.75 and a 52 week high of $14.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.68 and a quick ratio of 2.09. The firm’s 50 day moving average price is $9.12 and its 200-day moving average price is $10.13. The company has a market capitalization of $468.62 million, a P/E ratio of -10.16 and a beta of 0.94.

NeoPhotonics (NYSE:NPTN) last posted its quarterly earnings data on Tuesday, August 3rd. The semiconductor company reported ($0.22) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.07. The company had revenue of $65.01 million for the quarter, compared to the consensus estimate of $62.53 million. NeoPhotonics had a negative return on equity of 18.29% and a negative net margin of 15.01%. On average, equities analysts forecast that NeoPhotonics will post -0.59 earnings per share for the current year.

In other news, COO Chiyue Cheung sold 12,667 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $9.41, for a total value of $119,196.47. Following the sale, the chief operating officer now directly owns 2,667 shares in the company, valued at approximately $25,096.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Yuen Wupen sold 27,072 shares of the stock in a transaction on Friday, August 20th. The shares were sold at an average price of $8.20, for a total value of $221,990.40. Following the completion of the transaction, the vice president now owns 240,100 shares in the company, valued at $1,968,820. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of NPTN. Victory Capital Management Inc. increased its holdings in NeoPhotonics by 525.3% during the 1st quarter. Victory Capital Management Inc. now owns 906,792 shares of the semiconductor company’s stock worth $10,836,000 after purchasing an additional 761,781 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in NeoPhotonics by 35.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,614,885 shares of the semiconductor company’s stock worth $26,698,000 after purchasing an additional 685,940 shares in the last quarter. Friess Associates LLC bought a new position in NeoPhotonics during the 1st quarter worth about $6,592,000. Russell Investments Group Ltd. increased its holdings in NeoPhotonics by 40.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,555,735 shares of the semiconductor company’s stock worth $15,880,000 after purchasing an additional 448,599 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in NeoPhotonics during the 2nd quarter worth about $3,663,000. 84.23% of the stock is currently owned by institutional investors and hedge funds.

About NeoPhotonics

NeoPhotonics Corp. engages in the design, manufacture, and sale of hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive communications networks. Its product portfolio includes pluggable coherent modules, coherent-components, 100G/400G client transceivers, optical switching, high speed ICs, 100G / 400G laser devices and light engines, passive components, network monitoring and control, and 10G and low rate components.

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Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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