California State Teachers Retirement System Increases Position in NeoPhotonics Corp. (NPTN)
California State Teachers Retirement System raised its stake in shares of NeoPhotonics Corp. (NYSE:NPTN) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 64,642 shares of the company’s stock after buying an additional 1,908 shares during the period. California State Teachers Retirement System owned approximately 0.16% of NeoPhotonics Corp. worth $616,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in NPTN. Bank of Montreal Can purchased a new position in NeoPhotonics Corp. during the second quarter valued at $599,000. AlphaOne Investment Services LLC bought a new position in shares of NeoPhotonics Corp. during the first quarter valued at approximately $3,768,000. A.R.T. Advisors LLC bought a new position in shares of NeoPhotonics Corp. during the first quarter valued at approximately $1,435,000. Jacobs Levy Equity Management Inc. bought a new position in shares of NeoPhotonics Corp. during the first quarter valued at approximately $573,000. Finally, Harvest Capital Strategies LLC bought a new position in shares of NeoPhotonics Corp. during the first quarter valued at approximately $1,053,000. 79.16% of the stock is owned by institutional investors.
NeoPhotonics Corp. (NYSE:NPTN) traded down 2.67% during midday trading on Thursday, reaching $16.41. 673,046 shares of the company’s stock were exchanged. The firm has a market capitalization of $686.18 million, a P/E ratio of 107.96 and a beta of 0.77. The stock’s 50 day moving average is $16.24 and its 200 day moving average is $12.61. NeoPhotonics Corp. has a 52 week low of $6.68 and a 52 week high of $18.51.
NeoPhotonics Corp. (NYSE:NPTN) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business earned $99.13 million during the quarter, compared to the consensus estimate of $101.82 million. NeoPhotonics Corp. had a net margin of 1.82% and a return on equity of 7.67%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. On average, analysts expect that NeoPhotonics Corp. will post $0.67 EPS for the current fiscal year.
Several equities analysts have recently commented on NPTN shares. TheStreet upgraded shares of NeoPhotonics Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of NeoPhotonics Corp. in a report on Thursday, August 18th. Craig Hallum restated a “buy” rating on shares of NeoPhotonics Corp. in a report on Sunday, July 17th. B. Riley restated a “neutral” rating and issued a $12.75 price objective on shares of NeoPhotonics Corp. in a report on Tuesday, August 9th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $17.00 price objective on shares of NeoPhotonics Corp. in a report on Wednesday, September 7th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. NeoPhotonics Corp. presently has an average rating of “Buy” and an average target price of $15.21.
In other news, CEO Timothy Storrs Jenks sold 22,666 shares of NeoPhotonics Corp. stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $15.04, for a total transaction of $340,896.64. Following the completion of the sale, the chief executive officer now directly owns 193,157 shares in the company, valued at $2,905,081.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Benjamin Lee Sitler sold 5,669 shares of NeoPhotonics Corp. stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $12.00, for a total transaction of $68,028.00. Following the sale, the senior vice president now owns 68,009 shares of the company’s stock, valued at $816,108. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.
NeoPhotonics Corp. 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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