NeoPhotonics’ (NPTN) Strong-Buy Rating Reiterated at Needham & Company LLC
NeoPhotonics (NYSE:NPTN)‘s stock had its “strong-buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued on Friday, Marketbeat reports. They presently have a $9.00 price objective on the semiconductor company’s stock, up from their prior price objective of $8.00. Needham & Company LLC’s price objective would indicate a potential upside of 41.96% from the company’s current price.
Several other equities analysts have also recently weighed in on NPTN. B. Riley reissued a “neutral” rating and set a $5.75 price target (up from $5.00) on shares of NeoPhotonics in a report on Friday. Zacks Investment Research raised NeoPhotonics from a “sell” rating to a “hold” rating in a report on Wednesday. DA Davidson set a $7.00 price target on NeoPhotonics and gave the company a “hold” rating in a report on Thursday, December 7th. Rosenblatt Securities set a $13.00 price target on NeoPhotonics and gave the company a “buy” rating in a report on Sunday, February 25th. Finally, Piper Jaffray Companies cut NeoPhotonics from an “overweight” rating to a “neutral” rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. NeoPhotonics has a consensus rating of “Hold” and a consensus price target of $8.86.
NeoPhotonics (NYSE:NPTN) opened at $6.34 on Friday. The firm has a market capitalization of $278.61, a price-to-earnings ratio of -5.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.85. NeoPhotonics has a twelve month low of $4.56 and a twelve month high of $10.19.
Several large investors have recently bought and sold shares of NPTN. Dimensional Fund Advisors LP increased its stake in shares of NeoPhotonics by 26.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock worth $27,719,000 after purchasing an additional 760,110 shares in the last quarter. Quentec Asset Management LLC increased its stake in shares of NeoPhotonics by 24.3% in the 3rd quarter. Quentec Asset Management LLC now owns 2,403,104 shares of the semiconductor company’s stock worth $13,361,000 after purchasing an additional 469,087 shares in the last quarter. Royce & Associates LP increased its stake in shares of NeoPhotonics by 25.2% in the 4th quarter. Royce & Associates LP now owns 2,274,658 shares of the semiconductor company’s stock worth $14,967,000 after purchasing an additional 457,930 shares in the last quarter. Boston Partners purchased a new stake in shares of NeoPhotonics in the 3rd quarter worth $1,884,000. Finally, Russell Investments Group Ltd. increased its stake in shares of NeoPhotonics by 2,950.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 280,600 shares of the semiconductor company’s stock worth $1,560,000 after purchasing an additional 271,400 shares in the last quarter. Hedge funds and other institutional investors own 77.92% of the company’s stock.
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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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