NeoPhotonics Corporation (NPTN) Given Average Rating of “Hold” by Analysts
Shares of NeoPhotonics Corporation (NYSE:NPTN) have earned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $9.72.
A number of equities analysts recently weighed in on NPTN shares. Piper Jaffray Companies reissued a “buy” rating and set a $8.50 target price on shares of NeoPhotonics Corporation in a research note on Friday, August 4th. Northland Securities reissued a “buy” rating and set a $10.00 target price on shares of NeoPhotonics Corporation in a research note on Friday, June 23rd. Zacks Investment Research raised shares of NeoPhotonics Corporation from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 6th. B. Riley reissued a “neutral” rating and set a $6.25 target price on shares of NeoPhotonics Corporation in a research note on Wednesday, August 9th. Finally, DA Davidson started coverage on shares of NeoPhotonics Corporation in a research note on Thursday, June 29th. They set a “neutral” rating and a $9.00 target price for the company.
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Shares of NeoPhotonics Corporation (NYSE:NPTN) traded down 0.34% during trading on Friday, hitting $5.90. 702,404 shares of the stock traded hands. NeoPhotonics Corporation has a 1-year low of $5.26 and a 1-year high of $17.41. The firm has a 50-day moving average of $6.16 and a 200-day moving average of $7.92. The firm’s market capitalization is $257.46 million.
NeoPhotonics Corporation (NYSE:NPTN) last announced its earnings results 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. NeoPhotonics Corporation had a negative net margin of 7.28% and a negative return on equity of 9.43%. The business had revenue of $73.20 million during the quarter, compared to the consensus estimate of $71.11 million. During the same quarter last year, the firm earned $0.15 earnings per share. NeoPhotonics Corporation’s quarterly revenue was down 26.1% on a year-over-year basis. On average, equities analysts forecast that NeoPhotonics Corporation will post ($0.61) earnings per share for the current year.
In other news, Director Michael J. Sophie sold 4,000 shares of NeoPhotonics Corporation stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $8.45, for a total transaction of $33,800.00. Following the completion of the transaction, the director now directly owns 18,318 shares in the company, valued at $154,787.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Benjamin Lee Sitler sold 33,400 shares of NeoPhotonics Corporation stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $8.44, for a total transaction of $281,896.00. Following the transaction, the senior vice president now owns 84,711 shares of the company’s stock, valued at $714,960.84. The disclosure for this sale can be found here. Insiders sold 47,400 shares of company stock valued at $392,296 over the last 90 days. Corporate insiders own 17.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NPTN. Paloma Partners Management Co acquired a new position in shares of NeoPhotonics Corporation during the first quarter valued at about $103,000. TFS Capital LLC acquired a new position in shares of NeoPhotonics Corporation during the first quarter valued at about $110,000. Voya Investment Management LLC grew its holdings in shares of NeoPhotonics Corporation by 20.0% during the second quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 2,749 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in shares of NeoPhotonics Corporation during the first quarter valued at about $131,000. Finally, Citigroup Inc. grew its holdings in shares of NeoPhotonics Corporation by 35.7% during the second quarter. Citigroup Inc. now owns 17,314 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 4,556 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
About NeoPhotonics Corporation
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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