Zacks Investment Research upgraded shares of NeoPhotonics (NYSE:NPTN) from a hold rating to a buy rating in a report released on Thursday. Zacks Investment Research currently has $8.50 target price on the semiconductor company’s stock.

According to Zacks, “NeoPhotonics Corporation is engaged in the design and manufacture of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. Products offered by the Company includes high-speed products that enable data transmission at 10Gbps, 40Gbps and 100Gbps, agility products such as ROADMs that dynamically allocate bandwidth to adjust for volatile traffic patterns, and access products that provide high-bandwidth connections to more devices and people over fixed and wireless networks. “

A number of other research firms have also issued reports on NPTN. Piper Jaffray Companies increased their target price on shares of NeoPhotonics from $7.00 to $8.00 and gave the stock a neutral rating in a report on Monday, November 5th. B. Riley lowered shares of NeoPhotonics from a buy rating to a neutral rating and reduced their target price for the stock from $11.00 to $8.25 in a report on Thursday, December 6th. Rosenblatt Securities set a $13.00 target price on shares of NeoPhotonics and gave the stock a buy rating in a report on Monday, December 10th. ValuEngine lowered shares of NeoPhotonics from a strong-buy rating to a buy rating in a report on Wednesday, January 2nd. Finally, Craig Hallum set a $10.00 target price on shares of NeoPhotonics and gave the stock a buy rating in a report on Monday, November 5th. Four research 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’s stock. The company presently has an average rating of Buy and an average target price of $9.34.

NYSE:NPTN opened at $7.20 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.04 and a quick ratio of 1.51. The company has a market cap of $331.55 million, a P/E ratio of -6.55 and a beta of 1.31. NeoPhotonics has a fifty-two week low of $5.00 and a fifty-two week high of $9.48.

Several institutional investors and hedge funds have recently made changes to their positions in NPTN. Fox Run Management L.L.C. acquired a new stake in NeoPhotonics during the 3rd quarter worth $100,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in NeoPhotonics during the 4th quarter worth $92,000. Trexquant Investment LP purchased a new position in NeoPhotonics during the 3rd quarter worth $215,000. MetLife Investment Advisors LLC purchased a new position in NeoPhotonics during the 3rd quarter worth $217,000. Finally, Ibex Investors LLC purchased a new position in NeoPhotonics during the 3rd quarter worth $220,000. Institutional investors and hedge funds own 75.38% of the company’s stock.

About NeoPhotonics

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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Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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