NeoPhotonics Corp.’s (NPTN) Overweight Rating Reaffirmed at Piper Jaffray Cos.
Piper Jaffray Cos. restated their overweight rating on shares of NeoPhotonics Corp. (NYSE:NPTN) in a research note issued to investors on Friday. Piper Jaffray Cos. currently has a $20.00 price target on the stock, up from their previous price target of $17.00.
A number of other analysts have also recently issued reports on the company. Needham & Company LLC reissued a buy rating and set a $20.00 price objective on shares of NeoPhotonics Corp. in a research report on Thursday, August 18th. TheStreet raised NeoPhotonics Corp. from a hold rating to a buy rating in a research report on Thursday, August 11th. B. Riley reaffirmed a neutral rating and issued a $12.75 price target on shares of NeoPhotonics Corp. in a research report on Tuesday, August 9th. Finally, Craig Hallum reaffirmed a buy rating on shares of NeoPhotonics Corp. in a research report on Sunday, July 17th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $15.71.
NeoPhotonics Corp. (NYSE:NPTN) traded down 0.92% on Friday, reaching $16.10. The company’s stock had a trading volume of 206,008 shares. The firm has a market capitalization of $673.22 million, a PE ratio of 105.92 and a beta of 0.77. NeoPhotonics Corp. has a 52 week low of $6.68 and a 52 week high of $18.51. The stock’s 50 day moving average is $16.31 and its 200-day moving average is $12.66.
NeoPhotonics Corp. (NYSE:NPTN) last released its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The firm earned $99.13 million during the quarter, compared to analysts’ expectations of $101.82 million. NeoPhotonics Corp. had a return on equity of 7.67% and a net margin of 1.82%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share. Analysts predict that NeoPhotonics Corp. will post $0.68 EPS for the current year.
In other news, VP Yuen Wupen sold 12,729 shares of NeoPhotonics Corp. stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $15.00, for a total value of $190,935.00. Following the transaction, the vice president now directly owns 36,664 shares in the company, valued at $549,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy Storrs Jenks sold 22,666 shares of NeoPhotonics Corp. stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $15.04, for a total value of $340,896.64. Following the completion of the transaction, the chief executive officer now owns 193,157 shares in the company, valued at $2,905,081.28. The disclosure for this sale can be found here. 16.40% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. raised its position in NeoPhotonics Corp. by 10.8% in the second quarter. AWM Investment Company Inc. now owns 2,014,045 shares of the company’s stock worth $19,194,000 after buying an additional 195,809 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of NeoPhotonics Corp. by 40.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,902,415 shares of the company’s stock valued at $18,130,000 after buying an additional 544,861 shares in the last quarter. Vanguard Group Inc. raised its position in shares of NeoPhotonics Corp. by 14.9% in the second quarter. Vanguard Group Inc. now owns 1,891,908 shares of the company’s stock valued at $18,030,000 after buying an additional 245,463 shares in the last quarter. Northpointe Capital LLC raised its position in shares of NeoPhotonics Corp. by 383.9% in the second quarter. Northpointe Capital LLC now owns 1,580,654 shares of the company’s stock valued at $15,064,000 after buying an additional 1,253,978 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of NeoPhotonics Corp. by 7.1% in the second quarter. Glenmede Trust Co. NA now owns 1,495,370 shares of the company’s stock valued at $14,250,000 after buying an additional 99,713 shares in the last quarter. Institutional investors and hedge funds own 79.16% 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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