NeoPhotonics Corp (NPTN) Given New $13.00 Price Target at Cowen and Company
NeoPhotonics Corp (NYSE:NPTN) had its target price decreased by Cowen and Company from $16.00 to $13.00 in a research report sent to investors on Wednesday. Cowen and Company currently has an outperform rating on the stock.
A number of other brokerages have also recently commented on NPTN. Zacks Investment Research upgraded NeoPhotonics Corp from a strong sell rating to a hold rating in a report on Tuesday, February 21st. B. Riley reiterated a neutral rating and issued a $11.00 target price on shares of NeoPhotonics Corp in a report on Tuesday, December 20th. Needham & Company LLC reiterated a strong-buy rating and issued a $17.00 target price (down previously from $24.00) on shares of NeoPhotonics Corp in a report on Tuesday, December 20th. Finally, Raymond James Financial, Inc. reiterated a strong-buy rating and issued a $13.00 target price (down previously from $16.00) on shares of NeoPhotonics Corp in a report on Thursday, December 22nd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $14.08.
Shares of NeoPhotonics Corp (NYSE:NPTN) opened at 8.96 on Wednesday. NeoPhotonics Corp has a one year low of $6.90 and a one year high of $18.51. The company’s 50-day moving average is $10.57 and its 200-day moving average is $12.89. The company’s market capitalization is $380.09 million.
NeoPhotonics Corp (NYSE:NPTN) last announced its earnings results on Tuesday, March 14th. The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.05. The firm earned $109.84 million during the quarter, compared to analysts’ expectations of $106.96 million. NeoPhotonics Corp had a positive return on equity of 4.18% and a negative net margin of 0.46%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS. Equities analysts predict that NeoPhotonics Corp will post ($0.05) earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of NPTN. Wolverine Asset Management LLC acquired a new position in NeoPhotonics Corp during the second quarter worth about $667,000. Algert Global LLC boosted its position in NeoPhotonics Corp by 45.7% in the third quarter. Algert Global LLC now owns 25,733 shares of the company’s stock worth $420,000 after buying an additional 8,077 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in NeoPhotonics Corp during the third quarter worth about $399,000. Bank of Montreal Can boosted its position in NeoPhotonics Corp by 303.6% in the third quarter. Bank of Montreal Can now owns 253,751 shares of the company’s stock worth $4,146,000 after buying an additional 190,874 shares during the last quarter. Finally, Lebenthal Lisanti Capital Growth LLC acquired a new position in NeoPhotonics Corp during the third quarter worth about $1,073,000. Institutional investors own 80.14% of the company’s stock.
About NeoPhotonics Corp
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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