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.
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.
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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