NeoPhotonics Corporation (NYSE:NPTN)‘s stock had its “hold” rating reaffirmed by analysts at B. Riley in a report issued on Tuesday, November 7th. They currently have a $5.00 price objective on the semiconductor company’s stock, down from their previous price objective of $5.25. B. Riley’s price objective indicates a potential downside of 31.22% from the stock’s current price.
Several other equities analysts also recently commented on the stock. ValuEngine downgraded shares of NeoPhotonics Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. restated an “outperform” rating and issued a $9.00 price target on shares of NeoPhotonics Corporation in a report on Monday, July 24th. Zacks Investment Research cut shares of NeoPhotonics Corporation from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 27th. BidaskClub cut shares of NeoPhotonics Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $8.50 price objective on shares of NeoPhotonics Corporation in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.89.
Shares of NeoPhotonics Corporation (NYSE NPTN) traded up $0.29 during midday trading on Tuesday, reaching $7.27. The company’s stock had a trading volume of 581,596 shares, compared to its average volume of 1,311,254. The company has a current ratio of 1.85, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20. NeoPhotonics Corporation has a 1 year low of $4.56 and a 1 year high of $14.00.
NeoPhotonics Corporation (NYSE:NPTN) last posted its quarterly earnings results on Monday, November 6th. The semiconductor company reported ($0.25) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.09. NeoPhotonics Corporation had a negative return on equity of 13.61% and a negative net margin of 11.37%. The company had revenue of $71.12 million during the quarter, compared to the consensus estimate of $69.94 million. During the same period last year, the business earned $0.06 EPS. The business’s quarterly revenue was down 31.2% on a year-over-year basis. sell-side analysts anticipate that NeoPhotonics Corporation will post -1.01 EPS for the current fiscal year.
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Several large investors have recently modified their holdings of NPTN. Paloma Partners Management Co purchased a new stake in NeoPhotonics Corporation in the 1st quarter valued at about $103,000. Voya Investment Management LLC increased its position in NeoPhotonics Corporation by 20.0% during the second quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 2,749 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new position in NeoPhotonics Corporation during the first quarter worth about $131,000. Citigroup Inc. boosted its stake in NeoPhotonics Corporation by 35.7% during the second quarter. Citigroup Inc. now owns 17,314 shares of the semiconductor company’s stock worth $134,000 after buying an additional 4,556 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in NeoPhotonics Corporation during the second quarter worth about $159,000. 82.26% of the stock is owned by hedge funds and other institutional investors.
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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