Northpointe Capital LLC Increases Stake in NeoPhotonics Corp. (NPTN)
Northpointe Capital LLC raised its stake in NeoPhotonics Corp. (NYSE:NPTN) by 383.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,580,654 shares of the company’s stock after buying an additional 1,253,978 shares during the period. NeoPhotonics Corp. accounts for approximately 1.8% of Northpointe Capital LLC’s investment portfolio, making the stock its 4th largest position. Northpointe Capital LLC owned about 3.81% of NeoPhotonics Corp. worth $15,064,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of NeoPhotonics Corp. by 12.2% in the first quarter. Renaissance Technologies LLC now owns 1,168,000 shares of the company’s stock valued at $16,399,000 after buying an additional 127,213 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of NeoPhotonics Corp. during the first quarter valued at $11,871,000. Bogle Investment Management L P DE boosted its position in shares of NeoPhotonics Corp. by 66.7% in the first quarter. Bogle Investment Management L P DE now owns 577,363 shares of the company’s stock valued at $8,106,000 after buying an additional 231,078 shares in the last quarter. American Century Companies Inc. boosted its position in shares of NeoPhotonics Corp. by 77.5% in the second quarter. American Century Companies Inc. now owns 292,295 shares of the company’s stock valued at $2,786,000 after buying an additional 127,666 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new position in shares of NeoPhotonics Corp. during the first quarter valued at $4,051,000. 79.16% of the stock is owned by institutional investors.
NeoPhotonics Corp. (NYSE:NPTN) traded down 1.35% during midday trading on Monday, hitting $16.12. The stock had a trading volume of 511,126 shares. The company has a 50-day moving average price of $16.08 and a 200-day moving average price of $12.52. The stock has a market cap of $674.06 million, a P/E ratio of 106.05 and a beta of 0.77. NeoPhotonics Corp. has a 52 week low of $6.68 and a 52 week high of $18.51.
NeoPhotonics Corp. (NYSE:NPTN) last released its quarterly earnings data on Monday, August 8th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The firm earned $99.13 million during the quarter, compared to the consensus estimate of $101.82 million. NeoPhotonics Corp. had a return on equity of 7.67% and a net margin of 1.82%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. Equities analysts expect that NeoPhotonics Corp. will post $0.67 EPS for the current year.
Several equities research analysts have recently commented on the company. B. Riley reissued a “neutral” rating and issued a $12.75 price objective on shares of NeoPhotonics Corp. in a report on Sunday, August 14th. Craig Hallum reissued a “buy” rating on shares of NeoPhotonics Corp. in a report on Sunday, July 17th. Needham & Company LLC raised NeoPhotonics Corp. from a “buy” rating to a “strong-buy” rating and increased their price objective for the company from $17.00 to $18.00 in a report on Monday, July 25th. TheStreet raised NeoPhotonics Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $17.00 price objective on shares of NeoPhotonics Corp. in a report on Wednesday, September 7th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. NeoPhotonics Corp. has a consensus rating of “Buy” and a consensus target price of $15.21.
In related news, CEO Timothy Storrs Jenks sold 22,666 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was 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 owns 193,157 shares in the company, valued at $2,905,081.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Benjamin Lee Sitler sold 5,669 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $12.00, for a total value of $68,028.00. Following the sale, the senior vice president now owns 68,009 shares of the company’s stock, valued at approximately $816,108. The disclosure for this sale can be found here. Insiders own 16.40% 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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