Granite Point Capital Management L.P. trimmed its holdings in shares of NeoPhotonics Corp (NYSE:NPTN) by 63.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,176 shares of the semiconductor company’s stock after selling 57,326 shares during the quarter. Granite Point Capital Management L.P. owned 0.07% of NeoPhotonics worth $215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC acquired a new position in shares of NeoPhotonics in the 2nd quarter worth approximately $2,567,000. Morgan Stanley lifted its position in shares of NeoPhotonics by 447.5% in the 3rd quarter. Morgan Stanley now owns 441,476 shares of the semiconductor company’s stock worth $3,665,000 after purchasing an additional 360,836 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of NeoPhotonics in the 3rd quarter worth approximately $2,438,000. BlackRock Inc. lifted its position in shares of NeoPhotonics by 10.6% in the 2nd quarter. BlackRock Inc. now owns 2,227,949 shares of the semiconductor company’s stock worth $13,880,000 after purchasing an additional 213,336 shares during the period. Finally, AXA lifted its position in shares of NeoPhotonics by 704.9% in the 3rd quarter. AXA now owns 195,600 shares of the semiconductor company’s stock worth $1,623,000 after purchasing an additional 171,300 shares during the period. 75.38% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of NeoPhotonics from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Thursday. ValuEngine upgraded shares of NeoPhotonics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 2nd. Piper Jaffray Companies boosted their target price on shares of NeoPhotonics from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, November 5th. B. Riley boosted their target price on shares of NeoPhotonics from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Finally, Craig Hallum set a $10.00 target price on shares of NeoPhotonics and gave the company a “buy” rating in a research report on Monday, November 5th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. NeoPhotonics currently has an average rating of “Buy” and an average target price of $9.34.

Shares of NPTN stock opened at $7.20 on Monday. The firm has a market cap of $331.55 million, a price-to-earnings ratio of -6.55 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.04 and a quick ratio of 1.51. NeoPhotonics Corp has a 12 month low of $5.00 and a 12 month high of $9.48.

TRADEMARK VIOLATION NOTICE: “Granite Point Capital Management L.P. Trims Holdings in NeoPhotonics Corp (NPTN)” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://www.thecerbatgem.com/2019/02/11/granite-point-capital-management-l-p-trims-holdings-in-neophotonics-corp-nptn.html.

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.

See Also: What is the Bid-Ask Spread?

Institutional Ownership by Quarter 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.