NeoPhotonics Corporation (NPTN) Rating Reiterated by B. Riley

NeoPhotonics Corporation (NYSE:NPTN)‘s stock had its “hold” rating restated by investment analysts at B. Riley in a report released on Tuesday, November 7th. They presently have a $5.00 target price on the semiconductor company’s stock, down from their prior target price of $5.25. B. Riley’s target price would suggest a potential downside of 31.97% from the company’s previous close.

A number of other research analysts have also recently commented on NPTN. ValuEngine upgraded NeoPhotonics from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded NeoPhotonics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. Piper Jaffray Companies reiterated a “buy” rating and issued a $8.50 target price on shares of NeoPhotonics in a research report on Friday, August 4th. BidaskClub cut NeoPhotonics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, Cowen Inc reiterated a “buy” rating and issued a $11.00 target price on shares of NeoPhotonics in a research report on Sunday, October 1st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.89.

Shares of NeoPhotonics (NYSE NPTN) traded up $0.07 during trading on Tuesday, reaching $7.35. The company’s stock had a trading volume of 736,009 shares, compared to its average volume of 1,750,000. NeoPhotonics has a fifty-two week low of $4.56 and a fifty-two week high of $14.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.25.

NeoPhotonics (NYSE:NPTN) last posted its 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 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 quarter last year, the firm earned $0.06 earnings per share. The company’s revenue was down 31.2% on a year-over-year basis. sell-side analysts forecast that NeoPhotonics will post -0.99 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co acquired a new position in shares of NeoPhotonics in the first quarter worth approximately $103,000. Voya Investment Management LLC lifted its stake in shares of NeoPhotonics by 20.0% in the second quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 2,749 shares during the period. Parametric Portfolio Associates LLC acquired a new position in shares of NeoPhotonics in the first quarter worth approximately $131,000. Citigroup Inc. lifted its stake in shares of NeoPhotonics by 35.7% in the second quarter. Citigroup Inc. now owns 17,314 shares of the semiconductor company’s stock worth $134,000 after acquiring an additional 4,556 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of NeoPhotonics in the second quarter worth approximately $159,000. 82.26% of the stock is currently owned by hedge funds and other institutional investors.

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About NeoPhotonics

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.

Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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