NeoPhotonics (NPTN) Hits New 12-Month High After Earnings Beat

Shares of NeoPhotonics Corp (NYSE:NPTN) reached a new 52-week high during trading on Monday following a better than expected earnings announcement. The stock traded as high as $9.48 and last traded at $8.62, with a volume of 60578 shares. The stock had previously closed at $9.11.

The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. The company had revenue of $81.75 million for the quarter, compared to analyst estimates of $82.60 million. NeoPhotonics had a negative return on equity of 25.76% and a negative net margin of 16.60%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) earnings per share.

A number of brokerages have issued reports on NPTN. Piper Jaffray Companies boosted their target price on NeoPhotonics from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday. DA Davidson upped their price objective on NeoPhotonics from $6.00 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. B. Riley upped their price objective on NeoPhotonics from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday. Craig Hallum set a $10.00 price objective on NeoPhotonics and gave the stock a “buy” rating in a research report on Monday. Finally, Zacks Investment Research raised NeoPhotonics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $9.88.

In other news, VP Yuen Wupen sold 22,877 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $8.91, for a total transaction of $203,834.07. Following the sale, the vice president now owns 48,265 shares of the company’s stock, valued at $430,041.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Chiyue Cheung sold 10,000 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $8.11, for a total value of $81,100.00. Following the sale, the chief operating officer now directly owns 5,000 shares in the company, valued at approximately $40,550. The disclosure for this sale can be found here. Insiders have sold 33,877 shares of company stock worth $292,984 in the last ninety days. Corporate insiders own 16.70% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Pier 88 Investment Partners LLC grew its stake in shares of NeoPhotonics by 43.0% during the second quarter. Pier 88 Investment Partners LLC now owns 147,726 shares of the semiconductor company’s stock worth $920,000 after purchasing an additional 44,455 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of NeoPhotonics during the second quarter worth $244,000. SG Americas Securities LLC acquired a new position in shares of NeoPhotonics during the second quarter worth $471,000. State of Wisconsin Investment Board grew its stake in shares of NeoPhotonics by 14.2% during the second quarter. State of Wisconsin Investment Board now owns 250,000 shares of the semiconductor company’s stock worth $1,558,000 after purchasing an additional 31,000 shares in the last quarter. Finally, Needham Investment Management LLC grew its stake in shares of NeoPhotonics by 11.4% during the second quarter. Needham Investment Management LLC now owns 245,000 shares of the semiconductor company’s stock worth $1,526,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.35 and a current ratio of 1.81. The company has a market capitalization of $412.71 million, a P/E ratio of -7.93 and a beta of 1.12.

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About NeoPhotonics (NYSE:NPTN)

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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