NeoPhotonics Corporation (NYSE:NPTN)‘s stock had its “buy” rating reaffirmed by equities researchers at Craig Hallum in a research note issued on Friday. They presently have a $8.50 price target on the semiconductor company’s stock. Craig Hallum’s price target would suggest a potential upside of 71.03% from the stock’s previous close.

A number of other research firms also recently weighed in on NPTN. B. Riley reissued a “hold” rating and issued a $5.25 price target on shares of NeoPhotonics Corporation in a research note on Friday. Raymond James Financial, Inc. downgraded NeoPhotonics Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday. UBS AG downgraded NeoPhotonics Corporation from an “outperform” rating to a “market perform” rating in a research note on Thursday. Cowen and Company reissued a “buy” rating and issued a $11.00 price target on shares of NeoPhotonics Corporation in a research note on Sunday, October 1st. Finally, BidaskClub raised NeoPhotonics Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.25.

Shares of NeoPhotonics Corporation (NYSE:NPTN) traded up 0.60% during trading on Friday, hitting $5.00. The stock had a trading volume of 2,153,013 shares. NeoPhotonics Corporation has a 52 week low of $4.72 and a 52 week high of $16.61. The stock’s market capitalization is $218.19 million. The stock’s 50 day moving average is $5.87 and its 200 day moving average is $7.65.

NeoPhotonics Corporation (NYSE:NPTN) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.10. NeoPhotonics Corporation had a negative return on equity of 9.43% and a negative net margin of 7.28%. The firm had revenue of $73.20 million for the quarter, compared to the consensus estimate of $71.11 million. During the same quarter in the prior year, the business earned $0.15 EPS. The business’s revenue for the quarter was down 26.1% compared to the same quarter last year. On average, equities research analysts expect that NeoPhotonics Corporation will post ($0.61) earnings per share for the current fiscal year.

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In other NeoPhotonics Corporation news, Director Michael J. Sophie sold 4,000 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $8.45, for a total transaction of $33,800.00. Following the completion of the transaction, the director now owns 18,318 shares in the company, valued at approximately $154,787.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Benjamin Lee Sitler sold 33,400 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $8.44, for a total value of $281,896.00. Following the transaction, the senior vice president now owns 84,711 shares of the company’s stock, valued at approximately $714,960.84. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its holdings in NeoPhotonics Corporation by 33.0% during the 2nd quarter. Fisher Asset Management LLC now owns 343,595 shares of the semiconductor company’s stock worth $2,653,000 after purchasing an additional 85,341 shares in the last quarter. Victory Capital Management Inc. increased its holdings in NeoPhotonics Corporation by 37.2% during the 2nd quarter. Victory Capital Management Inc. now owns 165,367 shares of the semiconductor company’s stock worth $1,277,000 after purchasing an additional 44,803 shares in the last quarter. Granite Point Capital Management L.P. increased its holdings in NeoPhotonics Corporation by 307.1% during the 2nd quarter. Granite Point Capital Management L.P. now owns 421,304 shares of the semiconductor company’s stock worth $3,252,000 after purchasing an additional 317,804 shares in the last quarter. Royce & Associates LP increased its holdings in NeoPhotonics Corporation by 12.8% during the 2nd quarter. Royce & Associates LP now owns 1,767,528 shares of the semiconductor company’s stock worth $13,645,000 after purchasing an additional 200,900 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in NeoPhotonics Corporation by 1.7% during the 4th quarter. Teachers Advisors LLC now owns 52,939 shares of the semiconductor company’s stock worth $572,000 after purchasing an additional 874 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

About NeoPhotonics Corporation

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.

Analyst Recommendations for NeoPhotonics Corporation (NYSE:NPTN)

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