NeoPhotonics Corporation (NPTN) Stock Rating Upgraded by BidaskClub
NeoPhotonics Corporation (NYSE:NPTN) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday.
Other equities research analysts have also recently issued reports about the company. B. Riley restated a “neutral” rating and set a $6.25 price objective on shares of NeoPhotonics Corporation in a research note on Wednesday, August 9th. ValuEngine upgraded NeoPhotonics Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Piper Jaffray Companies restated a “buy” rating and set a $8.50 price objective on shares of NeoPhotonics Corporation in a research note on Friday, August 4th. Raymond James Financial, Inc. decreased their price objective on NeoPhotonics Corporation from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, August 24th. Finally, Zacks Investment Research upgraded NeoPhotonics Corporation from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $9.72.
NeoPhotonics Corporation (NYSE:NPTN) opened at 5.92 on Wednesday. The firm’s 50-day moving average price is $6.16 and its 200 day moving average price is $7.92. The stock’s market cap is $258.34 million. NeoPhotonics Corporation has a 12 month low of $5.26 and a 12 month high of $17.41.
NeoPhotonics Corporation (NYSE:NPTN) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The firm had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $71.11 million. NeoPhotonics Corporation had a negative return on equity of 9.43% and a negative net margin of 7.28%. The firm’s quarterly revenue was down 26.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. On average, analysts anticipate that NeoPhotonics Corporation will post ($0.61) earnings per share for the current year.
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In other NeoPhotonics Corporation news, SVP Benjamin Lee Sitler sold 33,400 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $8.44, for a total value of $281,896.00. Following the completion of the sale, the senior vice president now directly owns 84,711 shares in the company, valued at $714,960.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael J. Sophie sold 4,000 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $8.45, for a total value of $33,800.00. Following the completion of the sale, the director now owns 18,318 shares of the company’s stock, valued at $154,787.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,400 shares of company stock valued at $392,296. 17.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in NPTN. Quentec Asset Management LLC raised its stake in NeoPhotonics Corporation by 78.9% in the second quarter. Quentec Asset Management LLC now owns 1,934,017 shares of the semiconductor company’s stock valued at $14,931,000 after buying an additional 853,181 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in NeoPhotonics Corporation by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock valued at $27,719,000 after buying an additional 760,110 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in NeoPhotonics Corporation in the second quarter valued at about $4,630,000. Marshall Wace North America L.P. raised its stake in NeoPhotonics Corporation by 1,394.9% in the second quarter. Marshall Wace North America L.P. now owns 613,493 shares of the semiconductor company’s stock valued at $4,908,000 after buying an additional 572,453 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in NeoPhotonics Corporation by 18.9% in the first quarter. Wellington Management Group LLP now owns 2,767,194 shares of the semiconductor company’s stock valued at $24,933,000 after buying an additional 440,640 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.
NeoPhotonics Corporation 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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