State Street Corp trimmed its position in NeoPhotonics Corp (NYSE:NPTN) by 49.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 556,094 shares of the semiconductor company’s stock after selling 545,667 shares during the quarter. State Street Corp owned about 1.27% of NeoPhotonics worth $4,295,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in NeoPhotonics by 0.4% during the second quarter. Goldman Sachs Group Inc. now owns 96,999 shares of the semiconductor company’s stock worth $749,000 after acquiring an additional 433 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in NeoPhotonics by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 114,544 shares of the semiconductor company’s stock worth $885,000 after acquiring an additional 722 shares during the period. Teachers Advisors LLC grew its holdings in NeoPhotonics by 5.1% during the second quarter. Teachers Advisors LLC now owns 55,616 shares of the semiconductor company’s stock worth $429,000 after acquiring an additional 2,677 shares during the period. Voya Investment Management LLC grew its holdings in NeoPhotonics by 20.0% during the second quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 2,749 shares during the period. Finally, Rhumbline Advisers grew its holdings in NeoPhotonics by 8.4% during the second quarter. Rhumbline Advisers now owns 38,504 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 81.06% of the company’s stock.

Shares of NeoPhotonics Corp (NPTN) traded up $0.17 on Friday, reaching $6.57. The company’s stock had a trading volume of 1,017,000 shares, compared to its average volume of 1,306,903. The company has a current ratio of 1.85, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20. NeoPhotonics Corp has a one year low of $4.56 and a one year high of $14.00.

NeoPhotonics (NYSE:NPTN) last issued its quarterly earnings data on Monday, November 6th. The semiconductor company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.09. NeoPhotonics had a negative return on equity of 13.61% and a negative net margin of 11.37%. The company had revenue of $71.12 million for the quarter, compared to analyst estimates of $69.94 million. During the same period last year, the company earned $0.06 earnings per share. NeoPhotonics’s quarterly revenue was down 31.2% compared to the same quarter last year. research analysts anticipate that NeoPhotonics Corp will post -0.99 earnings per share for the current year.

Several analysts recently commented on the company. DA Davidson set a $7.00 target price on NeoPhotonics and gave the stock a “hold” rating in a report on Thursday. Zacks Investment Research raised NeoPhotonics from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine raised NeoPhotonics from a “sell” rating to a “hold” rating in a report on Friday, December 1st. B. Riley reissued a “hold” rating and issued a $5.00 price objective (down from $5.25) on shares of NeoPhotonics in a report on Tuesday, November 7th. Finally, Needham & Company LLC dropped their price objective on NeoPhotonics from $11.00 to $8.00 and set a “strong-buy” rating on the stock in a report on Monday, October 9th. One research analyst has 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 company. The stock has a consensus rating of “Hold” and an average price target of $8.67.

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About NeoPhotonics

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.

Institutional Ownership by Quarter for NeoPhotonics (NYSE:NPTN)

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