Raymond James Financial, Inc. downgraded shares of NeoPhotonics Corporation (NYSE:NPTN) from an outperform rating to a market perform rating in a research report released on Thursday morning, MarketBeat reports.

NPTN has been the topic of a number of other research reports. BidaskClub raised NeoPhotonics Corporation from a strong sell rating to a sell rating in a research note on Friday, August 25th. B. Riley reaffirmed a neutral rating and set a $6.25 target price on shares of NeoPhotonics Corporation in a research note on Friday, August 4th. Zacks Investment Research raised NeoPhotonics Corporation from a strong sell rating to a hold rating in a research note on Thursday, July 6th. UBS AG cut NeoPhotonics Corporation from an outperform rating to a market perform rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a strong-buy rating and set a $13.00 target price on shares of NeoPhotonics Corporation in a research note on Monday, June 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $9.25.

Shares of NeoPhotonics Corporation (NYSE NPTN) opened at 4.96 on Thursday. NeoPhotonics Corporation has a 12-month low of $4.72 and a 12-month high of $16.61. The stock’s market cap is $216.44 million. The firm has a 50-day moving average price of $5.85 and a 200 day moving average price of $7.62.

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. NeoPhotonics Corporation had a negative return on equity of 9.43% and a negative net margin of 7.28%. The company had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $71.11 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was down 26.1% on a year-over-year basis. Equities research analysts expect that NeoPhotonics Corporation will post ($0.64) earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NPTN. Teachers Advisors LLC boosted its holdings in shares of NeoPhotonics Corporation by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 52,939 shares of the semiconductor company’s stock valued at $572,000 after purchasing an additional 874 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of NeoPhotonics Corporation by 5.4% in the first quarter. Bank of New York Mellon Corp now owns 127,838 shares of the semiconductor company’s stock valued at $1,151,000 after purchasing an additional 6,581 shares during the period. Parametric Portfolio Associates LLC purchased a new stake in shares of NeoPhotonics Corporation in the first quarter valued at approximately $131,000. Victory Capital Management Inc. boosted its holdings in shares of NeoPhotonics Corporation by 22.9% in the first quarter. Victory Capital Management Inc. now owns 120,564 shares of the semiconductor company’s stock valued at $1,086,000 after purchasing an additional 22,469 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of NeoPhotonics Corporation by 7.1% in the first quarter. American International Group Inc. now owns 18,979 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 1,252 shares during the period. 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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