Zacks Investment Research cut shares of NeoPhotonics (NYSE:NPTN) from a hold rating to a sell rating in a research note issued to investors on Tuesday, January 9th.
According to Zacks, “NeoPhotonics Corporation is engaged in the design and manufacture of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. Products offered by the Company includes high-speed products that enable data transmission at 10Gbps, 40Gbps and 100Gbps, agility products such as ROADMs that dynamically allocate bandwidth to adjust for volatile traffic patterns, and access products that provide high-bandwidth connections to more devices and people over fixed and wireless networks. “
Other equities analysts also recently issued reports about the company. Needham & Company LLC boosted their price objective on NeoPhotonics from $8.00 to $11.00 and gave the company a strong-buy rating in a research report on Monday, October 9th. Rosenblatt Securities set a $13.00 target price on NeoPhotonics and gave the stock a buy rating in a research report on Tuesday, December 12th. ValuEngine upgraded NeoPhotonics from a sell rating to a hold rating in a research report on Friday, December 1st. DA Davidson boosted their target price on NeoPhotonics to $6.50 and gave the stock a neutral rating in a research report on Wednesday, December 6th. Finally, B. Riley restated a hold rating and set a $5.00 price objective (down from $5.25) on shares of NeoPhotonics in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. NeoPhotonics has an average rating of Hold and a consensus price target of $8.67.
Shares of NeoPhotonics (NYSE:NPTN) opened at $5.49 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. NeoPhotonics has a fifty-two week low of $4.56 and a fifty-two week high of $12.44. The company has a market capitalization of $241.26, a price-to-earnings ratio of -6.46 and a beta of 1.12.
NeoPhotonics (NYSE:NPTN) last issued its quarterly earnings data on Monday, November 6th. The semiconductor company reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $69.94 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. NeoPhotonics’s revenue was down 31.2% compared to the same quarter last year. analysts forecast that NeoPhotonics will post -0.99 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Granite Point Capital Management L.P. lifted its holdings in shares of NeoPhotonics by 8.8% during the 3rd quarter. Granite Point Capital Management L.P. now owns 458,302 shares of the semiconductor company’s stock valued at $2,548,000 after purchasing an additional 36,998 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in NeoPhotonics by 26.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock worth $27,719,000 after acquiring an additional 760,110 shares during the last quarter. Victory Capital Management Inc. raised its stake in NeoPhotonics by 37.2% in the 2nd quarter. Victory Capital Management Inc. now owns 165,367 shares of the semiconductor company’s stock worth $1,277,000 after acquiring an additional 44,803 shares during the last quarter. Boston Partners purchased a new position in NeoPhotonics in the 3rd quarter worth $1,884,000. Finally, Russell Investments Group Ltd. raised its stake in NeoPhotonics by 2,950.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 280,600 shares of the semiconductor company’s stock worth $1,560,000 after acquiring an additional 271,400 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
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NeoPhotonics 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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