NeoPhotonics Target of Unusually Large Options Trading (NPTN)
NeoPhotonics Corp (NYSE:NPTN) was the target of unusually large options trading on Wednesday. Traders purchased 4,527 call options on the company. This is an increase of 5,421% compared to the typical volume of 82 call options.
In related news, VP Yuen Wupen sold 22,877 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $8.91, for a total transaction of $203,834.07. Following the completion of the sale, the vice president now directly owns 48,265 shares of the company’s stock, valued at approximately $430,041.15. The transaction was disclosed in a document filed with the SEC, 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, September 10th. The stock was sold at an average price of $8.11, for a total value of $81,100.00. Following the sale, the chief operating officer now directly owns 5,000 shares of the company’s stock, valued at $40,550. The disclosure for this sale can be found here. 16.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of NPTN. JPMorgan Chase & Co. grew its stake in shares of NeoPhotonics by 485.2% during the 1st quarter. JPMorgan Chase & Co. now owns 57,695 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 47,836 shares in the last quarter. Barclays PLC grew its stake in shares of NeoPhotonics by 123.9% during the 1st quarter. Barclays PLC now owns 42,139 shares of the semiconductor company’s stock worth $288,000 after acquiring an additional 23,316 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in shares of NeoPhotonics during the 1st quarter worth approximately $137,000. Bank of Montreal Can boosted its holdings in shares of NeoPhotonics by 30.9% in the 2nd quarter. Bank of Montreal Can now owns 69,061 shares of the semiconductor company’s stock valued at $431,000 after buying an additional 16,309 shares during the last quarter. Finally, Pier 88 Investment Partners LLC boosted its holdings in shares of NeoPhotonics by 43.0% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 147,726 shares of the semiconductor company’s stock valued at $920,000 after buying an additional 44,455 shares during the last quarter. 74.49% of the stock is owned by institutional investors.
NeoPhotonics (NYSE:NPTN) last issued its quarterly earnings results on Monday, August 6th. The semiconductor company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.06. The company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $73.56 million. NeoPhotonics had a negative net margin of 20.58% and a negative return on equity of 28.35%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business earned ($0.15) EPS. As a group, sell-side analysts expect that NeoPhotonics will post -0.87 EPS for the current fiscal year.
A number of analysts recently issued reports on the company. Zacks Investment Research raised NeoPhotonics from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Saturday, August 11th. ValuEngine raised NeoPhotonics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. DA Davidson increased their target price on NeoPhotonics from $6.00 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. B. Riley raised NeoPhotonics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $6.50 to $10.00 in a research note on Tuesday, August 7th. Finally, Rosenblatt Securities set a $13.00 price target on shares of NeoPhotonics and gave the stock a “buy” rating in a research note on Saturday, July 28th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $10.00.
NeoPhotonics Company Profile
NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. It offers high speed products, including transmitter, receiver, and switching products for 100G (gigabits per second) and optical transmission applications over distances of 2 to 2,000 kilometers; optical components for coherent systems, including narrow linewidth tunable transmit and local oscillator lasers (NLW-ITLA) that generate ultra-pure wavelength or color for coherent transmission, as well as coherent micro-modulators, which encode the information on the intensity and phase of the optical beam; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent signals.
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