NeoPhotonics Corp (NPTN) Receives Average Recommendation of “Hold” from Brokerages

NeoPhotonics Corp (NYSE:NPTN) has received an average rating of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.96.

NPTN has been the subject of a number of recent analyst reports. TheStreet raised NeoPhotonics from a “d+” rating to a “c” rating in a research note on Friday, March 1st. MKM Partners initiated coverage on NeoPhotonics in a research note on Monday, April 29th. They issued a “buy” rating and a $9.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating on shares of NeoPhotonics in a research note on Wednesday, February 27th. Zacks Investment Research raised NeoPhotonics from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Saturday, January 19th. Finally, ValuEngine raised NeoPhotonics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 2nd.

In related news, COO Chiyue Cheung sold 12,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $5.79, for a total transaction of $69,480.00. Following the completion of the transaction, the chief operating officer now directly owns 12,000 shares of the company’s stock, valued at $69,480. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy Storrs Jenks sold 16,999 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $6.62, for a total value of $112,533.38. The disclosure for this sale can be found here. 16.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Boston Partners raised its position in NeoPhotonics by 103.5% during the fourth quarter. Boston Partners now owns 2,742,980 shares of the semiconductor company’s stock valued at $17,775,000 after purchasing an additional 1,395,000 shares during the period. BlackRock Inc. raised its position in NeoPhotonics by 7.5% during the first quarter. BlackRock Inc. now owns 2,522,678 shares of the semiconductor company’s stock valued at $15,869,000 after purchasing an additional 174,916 shares during the period. Dimensional Fund Advisors LP raised its position in NeoPhotonics by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,416,774 shares of the semiconductor company’s stock valued at $15,202,000 after purchasing an additional 80,950 shares during the period. Paradigm Capital Management Inc. NY purchased a new stake in NeoPhotonics during the first quarter valued at approximately $8,262,000. Finally, JPMorgan Chase & Co. raised its position in NeoPhotonics by 136.0% during the first quarter. JPMorgan Chase & Co. now owns 962,190 shares of the semiconductor company’s stock valued at $6,053,000 after purchasing an additional 554,494 shares during the period. Institutional investors and hedge funds own 82.03% of the company’s stock.

NYSE:NPTN traded down $0.88 during mid-day trading on Thursday, hitting $4.84. 35,177 shares of the company traded hands, compared to its average volume of 714,651. NeoPhotonics has a one year low of $5.57 and a one year high of $9.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.98. The firm has a market capitalization of $264.90 million, a PE ratio of -6.54 and a beta of 1.26.

NeoPhotonics (NYSE:NPTN) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.08). NeoPhotonics had a negative net margin of 11.85% and a negative return on equity of 17.55%. The company had revenue of $79.40 million for the quarter, compared to the consensus estimate of $79.99 million. During the same period in the prior year, the firm posted ($0.33) EPS. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities analysts forecast that NeoPhotonics will post -0.43 earnings per share for the current fiscal year.

About NeoPhotonics

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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Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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