Raymond James Financial, Inc. downgraded shares of NeoPhotonics Corporation (NYSE:NPTN) from an outperform rating to a market perform rating in a report released on Thursday, October 5th, Marketbeat reports.
A number of other equities research analysts have also weighed in on the stock. DA Davidson started coverage on shares of NeoPhotonics Corporation in a research note on Thursday, June 29th. They set a neutral rating and a $9.00 target price on the stock. Zacks Investment Research raised shares of NeoPhotonics Corporation from a strong sell rating to a hold rating in a research note on Thursday, July 6th. ValuEngine lowered shares of NeoPhotonics Corporation from a sell rating to a strong sell rating in a research note on Tuesday, July 11th. BidaskClub lowered shares of NeoPhotonics Corporation from a sell rating to a strong sell rating in a research note on Friday, September 8th. Finally, Northland Securities reaffirmed a buy rating and set a $10.00 target price on shares of NeoPhotonics Corporation in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $8.92.
NeoPhotonics Corporation (NYSE:NPTN) traded up 2.53% during midday trading on Thursday, hitting $4.87. The stock had a trading volume of 191,130 shares. The company’s market cap is $212.52 million. The company’s 50 day moving average is $5.70 and its 200 day moving average is $7.44. NeoPhotonics Corporation has a 1-year low of $4.61 and a 1-year high of $15.68.
NeoPhotonics Corporation (NYSE:NPTN) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $71.11 million. NeoPhotonics Corporation had a negative net margin of 7.28% and a negative return on equity of 9.43%. The company’s revenue was down 26.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. On average, equities analysts anticipate that NeoPhotonics Corporation will post ($0.84) earnings per share for the current fiscal year.
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In other NeoPhotonics Corporation news, Director Michael J. Sophie sold 4,000 shares of NeoPhotonics Corporation stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $8.45, for a total value of $33,800.00. Following the completion of the transaction, the director now directly owns 18,318 shares of the company’s stock, valued at $154,787.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Benjamin Lee Sitler sold 33,400 shares of NeoPhotonics Corporation stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $8.44, for a total transaction of $281,896.00. Following the completion of the transaction, the senior vice president now directly owns 84,711 shares of the company’s stock, valued at $714,960.84. The disclosure for this sale can be found here. Company insiders own 17.30% of the company’s stock.
Institutional investors have recently modified their holdings of the business. AWM Investment Company Inc. grew its stake in shares of NeoPhotonics Corporation by 15.7% in the second quarter. AWM Investment Company Inc. now owns 2,265,838 shares of the semiconductor company’s stock worth $17,492,000 after acquiring an additional 307,900 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of NeoPhotonics Corporation by 13.6% in the second quarter. The Manufacturers Life Insurance Company now owns 27,099 shares of the semiconductor company’s stock worth $210,000 after acquiring an additional 3,245 shares during the period. BlueCrest Capital Management Ltd bought a new stake in shares of NeoPhotonics Corporation in the second quarter worth approximately $234,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of NeoPhotonics Corporation in the second quarter worth approximately $330,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of NeoPhotonics Corporation by 0.4% in the second quarter. Goldman Sachs Group Inc. now owns 96,999 shares of the semiconductor company’s stock worth $749,000 after acquiring an additional 433 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.
NeoPhotonics Corporation Company Profile
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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