NeoPhotonics Corporation (NPTN) Lifted to “Sell” at BidaskClub
BidaskClub upgraded shares of NeoPhotonics Corporation (NYSE:NPTN) from a strong sell rating to a sell rating in a research note published on Friday.
NPTN has been the topic of several other reports. Zacks Investment Research cut shares of NeoPhotonics Corporation from a hold rating to a strong sell rating in a research note on Thursday, July 27th. ValuEngine cut shares of NeoPhotonics Corporation from a sell rating to a strong sell rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. reaffirmed an outperform rating and set a $9.00 price objective on shares of NeoPhotonics Corporation in a research note on Monday, July 24th. Rosenblatt Securities started coverage on shares of NeoPhotonics Corporation in a research note on Thursday, May 25th. They set a buy rating and a $13.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a strong-buy rating and set a $13.00 price objective on shares of NeoPhotonics Corporation in a research note on Monday, June 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $9.97.
Shares of NeoPhotonics Corporation (NPTN) opened at 6.13 on Friday. The firm’s 50-day moving average price is $7.22 and its 200 day moving average price is $8.56. NeoPhotonics Corporation has a 1-year low of $5.26 and a 1-year high of $18.51. The stock’s market capitalization is $267.50 million.
NeoPhotonics Corporation (NYSE:NPTN) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.10. The firm had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $71.11 million. NeoPhotonics Corporation had a negative net margin of 7.28% and a negative return on equity of 9.43%. The company’s quarterly revenue was down 26.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. Analysts expect that NeoPhotonics Corporation will post ($0.60) EPS for the current fiscal year.
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In other news, major shareholder Rusnano sold 39,000 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $9.07, for a total transaction of $353,730.00. Following the sale, the insider now directly owns 4,687,005 shares of the company’s stock, valued at $42,511,135.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Chiyue Cheung sold 10,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $7.66, for a total transaction of $76,600.00. Following the sale, the chief operating officer now directly owns 10,000 shares in the company, valued at $76,600. The disclosure for this sale can be found here. Insiders have sold 86,400 shares of company stock worth $746,026 over the last three months. 17.30% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Quentec Asset Management LLC boosted its stake in NeoPhotonics Corporation by 78.9% in the second quarter. Quentec Asset Management LLC now owns 1,934,017 shares of the semiconductor company’s stock valued at $14,931,000 after buying an additional 853,181 shares during the period. Dimensional Fund Advisors LP boosted its stake in NeoPhotonics Corporation by 26.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock valued at $27,719,000 after buying an additional 760,110 shares during the period. Kennedy Capital Management Inc. bought a new stake in NeoPhotonics Corporation during the second quarter valued at approximately $4,630,000. Marshall Wace North America L.P. boosted its stake in NeoPhotonics Corporation by 1,394.9% in the second quarter. Marshall Wace North America L.P. now owns 613,493 shares of the semiconductor company’s stock valued at $4,908,000 after buying an additional 572,453 shares during the period. Finally, Wellington Management Group LLP boosted its stake in NeoPhotonics Corporation by 18.9% in the first quarter. Wellington Management Group LLP now owns 2,767,194 shares of the semiconductor company’s stock valued at $24,933,000 after buying an additional 440,640 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.
NeoPhotonics Corporation 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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