NeoPhotonics (NYSE:NPTN) was downgraded by investment analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports.

A number of other equities research analysts also recently issued reports on the company. B. Riley reissued a “hold” rating and set a $5.25 price target on shares of NeoPhotonics in a research report on Friday, October 6th. Cowen reissued a “buy” rating and set a $11.00 price target on shares of NeoPhotonics in a research report on Sunday, October 1st. Zacks Investment Research downgraded NeoPhotonics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. DA Davidson set a $7.00 price target on NeoPhotonics and gave the company a “hold” rating in a research report on Thursday, December 7th. Finally, Needham & Company LLC lowered their price target on NeoPhotonics from $11.00 to $8.00 and set a “strong-buy” rating for the company in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $8.67.

Shares of NeoPhotonics (NPTN) opened at $6.55 on Monday. The company has a market capitalization of $287.84, a price-to-earnings ratio of -7.53 and a beta of 1.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.25. NeoPhotonics has a 1 year low of $4.56 and a 1 year high of $12.44.

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

Several institutional investors and hedge funds have recently modified their holdings of NPTN. Schwab Charles Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 722 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of 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 purchasing an additional 3,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NeoPhotonics by 19.0% during the second quarter. Bank of New York Mellon Corp now owns 152,098 shares of the semiconductor company’s stock worth $1,174,000 after purchasing an additional 24,260 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of NeoPhotonics by 171.5% during the second quarter. Alliancebernstein L.P. now owns 44,800 shares of the semiconductor company’s stock worth $346,000 after purchasing an additional 28,300 shares in the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of 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 purchasing an additional 2,677 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://www.thecerbatgem.com/2018/01/29/neophotonics-nptn-downgraded-by-piper-jaffray-companies.html.

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.

The Fly

Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

Receive News & Ratings for NeoPhotonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NeoPhotonics and related companies with MarketBeat.com's FREE daily email newsletter.