NeoPhotonics (NYSE:NPTN) has been assigned a $10.00 target price by stock analysts at Craig Hallum in a report released on Monday. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target indicates a potential upside of 16.96% from the stock’s current price.
Several other brokerages have also issued reports on NPTN. B. Riley upgraded shares of NeoPhotonics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $6.50 to $10.00 in a research note on Tuesday, August 7th. ValuEngine upgraded shares of NeoPhotonics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Rosenblatt Securities set a $13.00 price target on shares of NeoPhotonics and gave the stock a “buy” rating in a research note on Saturday, July 28th. Zacks Investment Research upgraded shares of NeoPhotonics from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Saturday, August 11th. Finally, DA Davidson increased their price target on shares of NeoPhotonics from $6.00 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. NeoPhotonics presently has a consensus rating of “Buy” and a consensus price target of $10.00.
NYSE NPTN traded down $0.56 during trading on Monday, hitting $8.55. The company had a trading volume of 63,851 shares, compared to its average volume of 659,777. The company has a current ratio of 1.81, a quick ratio of 1.35 and a debt-to-equity ratio of 0.27. NeoPhotonics has a one year low of $4.56 and a one year high of $9.27. The firm has a market capitalization of $412.71 million, a PE ratio of -7.75 and a beta of 1.12.
NeoPhotonics (NYSE:NPTN) last issued its quarterly earnings data on Friday, November 2nd. The semiconductor company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.14. NeoPhotonics had a negative net margin of 16.60% and a negative return on equity of 25.76%. The business had revenue of $81.75 million during the quarter, compared to analyst estimates of $82.60 million. During the same period in the prior year, the business earned ($0.14) EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, sell-side analysts predict that NeoPhotonics will post -0.87 earnings per share for the current year.
In other NeoPhotonics news, VP Yuen Wupen sold 22,877 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $8.91, for a total transaction of $203,834.07. Following the completion of the sale, the vice president now directly owns 48,265 shares in the company, valued at approximately $430,041.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Chiyue Cheung sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $8.11, for a total transaction of $81,100.00. Following the sale, the chief operating officer now owns 5,000 shares of the company’s stock, valued at $40,550. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,877 shares of company stock valued at $292,984. 16.70% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new stake in shares of NeoPhotonics during the 3rd quarter valued at about $867,000. Bank of Montreal Can boosted its holdings in shares of NeoPhotonics by 23.3% during the 3rd quarter. Bank of Montreal Can now owns 85,122 shares of the semiconductor company’s stock valued at $707,000 after acquiring an additional 16,061 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of NeoPhotonics during the 3rd quarter valued at about $100,000. Northern Trust Corp boosted its holdings in shares of NeoPhotonics by 3.2% during the 2nd quarter. Northern Trust Corp now owns 367,791 shares of the semiconductor company’s stock valued at $2,291,000 after acquiring an additional 11,554 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in shares of NeoPhotonics by 170.3% during the 2nd quarter. Putnam Investments LLC now owns 356,200 shares of the semiconductor company’s stock valued at $2,219,000 after acquiring an additional 224,400 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.
NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. It offers high speed products, including transmitter, receiver, and switching products for 100G (gigabits per second) and optical transmission applications over distances of 2 to 2,000 kilometers; optical components for coherent systems, including narrow linewidth tunable transmit and local oscillator lasers (NLW-ITLA) that generate ultra-pure wavelength or color for coherent transmission, as well as coherent micro-modulators, which encode the information on the intensity and phase of the optical beam; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent signals.
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