Granite Point Capital Management L.P. reduced its position in NeoPhotonics Corp (NYSE:NPTN) by 15.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 388,000 shares of the semiconductor company’s stock after selling 70,302 shares during the period. NeoPhotonics makes up about 0.2% of Granite Point Capital Management L.P.’s holdings, making the stock its 21st biggest holding. Granite Point Capital Management L.P. owned approximately 0.88% of NeoPhotonics worth $2,553,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Voya Investment Management LLC boosted its position in NeoPhotonics by 20.0% in the 2nd quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 2,749 shares during the last quarter. Citigroup Inc. boosted its position in NeoPhotonics by 35.7% in the 2nd quarter. Citigroup Inc. now owns 17,314 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 4,556 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in NeoPhotonics in the 2nd quarter valued at about $159,000. The Manufacturers Life Insurance Company boosted its position in NeoPhotonics by 13.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,099 shares of the semiconductor company’s stock valued at $210,000 after buying an additional 3,245 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in NeoPhotonics in the 2nd quarter valued at about $234,000. 77.92% of the stock is owned by institutional investors.
NPTN has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of NeoPhotonics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. DA Davidson set a $7.00 target price on shares of NeoPhotonics and gave the company a “hold” rating in a research note on Thursday, December 7th. ValuEngine upgraded shares of NeoPhotonics from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Rosenblatt Securities set a $13.00 target price on shares of NeoPhotonics and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, Piper Jaffray Companies lowered shares of NeoPhotonics from an “overweight” rating to a “neutral” rating in a research note on Monday, January 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. NeoPhotonics presently has a consensus rating of “Hold” and a consensus target price of $8.67.
NeoPhotonics Corp (NYSE NPTN) traded up $0.14 on Tuesday, reaching $6.28. 331,840 shares of the company traded hands, compared to its average volume of 734,986. The firm has a market capitalization of $269.82, a price-to-earnings ratio of -7.19 and a beta of 1.12. NeoPhotonics Corp has a 52-week low of $4.56 and a 52-week high of $12.44. The company has a current ratio of 1.85, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20.
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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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