NeoPhotonics Corp. (NPTN) Receives Average Rating of “Buy” from Analysts
NeoPhotonics Corp. (NYSE:NPTN) has been given an average recommendation of “Buy” by the eight research firms that are presently covering the firm. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $16.65.
A number of equities research analysts have issued reports on the company. Needham & Company LLC boosted their price target on NeoPhotonics Corp. from $20.00 to $22.00 and gave the company a “strong-buy” rating in a research note on Monday, September 12th. B. Riley reaffirmed a “neutral” rating and set a $12.75 price objective on shares of NeoPhotonics Corp. in a research report on Tuesday, August 9th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $17.00 price objective on shares of NeoPhotonics Corp. in a research report on Wednesday, September 7th. Craig Hallum reaffirmed a “buy” rating on shares of NeoPhotonics Corp. in a research report on Sunday, July 17th. Finally, TheStreet raised NeoPhotonics Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th.
In related news, VP Yuen Wupen sold 3,400 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $15.00, for a total value of $51,000.00. Following the transaction, the vice president now directly owns 21,908 shares of the company’s stock, valued at approximately $328,620. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy Storrs Jenks sold 22,666 shares of the business’s stock in a transaction that occurred on 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 directly 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 corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Northpointe Capital LLC boosted its position in NeoPhotonics Corp. by 383.9% in the second quarter. Northpointe Capital LLC now owns 1,580,654 shares of the company’s stock worth $15,064,000 after buying an additional 1,253,978 shares in the last quarter. Wellington Management Group LLP purchased a new stake in NeoPhotonics Corp. during the first quarter worth about $11,871,000. Dimensional Fund Advisors LP increased its stake in NeoPhotonics Corp. by 40.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,902,415 shares of the company’s stock worth $18,130,000 after buying an additional 544,861 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in NeoPhotonics Corp. during the second quarter worth about $3,144,000. Finally, Spark Investment Management LLC increased its stake in NeoPhotonics Corp. by 756.4% in the second quarter. Spark Investment Management LLC now owns 361,400 shares of the company’s stock worth $3,444,000 after buying an additional 319,200 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.
Shares of NeoPhotonics Corp. (NYSE:NPTN) traded up 1.08% on Monday, reaching $14.93. 228,396 shares of the company’s stock were exchanged. NeoPhotonics Corp. has a one year low of $7.16 and a one year high of $18.51. The firm has a market cap of $624.30 million, a PE ratio of 98.22 and a beta of 0.77. The company has a 50 day moving average price of $16.30 and a 200 day moving average price of $12.74.
NeoPhotonics Corp. (NYSE:NPTN) last released its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The business 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 business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 EPS. Analysts expect that NeoPhotonics Corp. will post $0.68 EPS for the current fiscal year.
NeoPhotonics Corp. 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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