Artemis Investment Management LLP Lowers Holdings in NeoPhotonics Corp (NPTN)

Artemis Investment Management LLP lessened its stake in NeoPhotonics Corp (NYSE:NPTN) by 77.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,948 shares of the semiconductor company’s stock after selling 744,254 shares during the quarter. Artemis Investment Management LLP owned about 0.48% of NeoPhotonics worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of NPTN. Bank of Montreal Can grew its position in shares of NeoPhotonics by 30.9% in the second quarter. Bank of Montreal Can now owns 69,061 shares of the semiconductor company’s stock valued at $431,000 after purchasing an additional 16,309 shares in the last quarter. State of Wisconsin Investment Board grew its position in shares of NeoPhotonics by 14.2% in the second quarter. State of Wisconsin Investment Board now owns 250,000 shares of the semiconductor company’s stock valued at $1,558,000 after purchasing an additional 31,000 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of NeoPhotonics in the second quarter valued at approximately $471,000. IPG Investment Advisors LLC purchased a new stake in shares of NeoPhotonics in the second quarter valued at approximately $125,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of NeoPhotonics by 32.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 183,536 shares of the semiconductor company’s stock valued at $1,144,000 after purchasing an additional 44,922 shares in the last quarter. Hedge funds and other institutional investors own 73.27% of the company’s stock.

NPTN opened at $7.82 on Friday. NeoPhotonics Corp has a one year low of $4.95 and a one year high of $9.48. The company has a market capitalization of $364.71 million, a P/E ratio of -7.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.04.

NeoPhotonics (NYSE:NPTN) last released its quarterly earnings data on Friday, November 2nd. The semiconductor company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.14. NeoPhotonics had a negative return on equity of 26.53% and a negative net margin of 16.60%. The firm had revenue of $81.75 million for the quarter, compared to analysts’ expectations of $82.60 million. During the same period in the prior year, the firm posted ($0.14) earnings per share. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, analysts anticipate that NeoPhotonics Corp will post -0.82 EPS for the current year.

In other NeoPhotonics 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 transaction, the vice president now directly owns 48,265 shares in the company, valued at $430,041.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief operating officer now owns 5,000 shares in the company, valued at $40,550. The disclosure for this sale can be found here. Insiders sold 33,877 shares of company stock worth $292,984 over the last quarter. 16.70% of the stock is currently owned by insiders.

A number of equities research analysts have recently issued reports on the company. B. Riley upgraded NeoPhotonics from a “neutral” rating to a “buy” rating and upped their price target for the company from $6.50 to $10.00 in a research report on Tuesday, August 7th. Zacks Investment Research upgraded NeoPhotonics from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Saturday, August 11th. ValuEngine upgraded NeoPhotonics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 2nd. Rosenblatt Securities set a $13.00 price objective on NeoPhotonics and gave the company a “buy” rating in a report on Saturday, July 28th. Finally, Craig Hallum set a $10.00 price objective on NeoPhotonics and gave the company a “buy” rating in a report on Monday, November 5th. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.88.

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NeoPhotonics Profile

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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Institutional Ownership by Quarter for NeoPhotonics (NYSE:NPTN)

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