NeoPhotonics’ (NPTN) Buy Rating Reiterated at Needham & Company LLC

NeoPhotonics (NYSE:NPTN)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report issued on Monday, Price Targets.com reports. They presently have a $15.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 65.02% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Raymond James upgraded NeoPhotonics from an “underperform” rating to a “market perform” rating in a research note on Thursday, September 9th. Rosenblatt Securities restated a “buy” rating and issued a $16.00 target price on shares of NeoPhotonics in a research note on Friday, September 10th. Zacks Investment Research lowered NeoPhotonics from a “hold” rating to a “sell” rating in a research note on Thursday, August 5th. Finally, MKM Partners upped their target price on NeoPhotonics from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, August 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, NeoPhotonics has an average rating of “Buy” and an average price target of $13.88.

Shares of NPTN opened at $9.09 on Monday. The stock’s 50-day simple moving average is $9.13 and its 200 day simple moving average is $10.15. The stock has a market capitalization of $474.36 million, a price-to-earnings ratio of -10.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.09 and a current ratio of 2.68. NeoPhotonics has a 52-week low of $5.75 and a 52-week high of $14.14.

NeoPhotonics (NYSE:NPTN) last announced its earnings results on Tuesday, August 3rd. The semiconductor company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.07. NeoPhotonics had a negative return on equity of 18.29% and a negative net margin of 15.01%. On average, research analysts forecast that NeoPhotonics will post -0.59 earnings per share for the current fiscal year.

In other NeoPhotonics news, VP Yuen Wupen sold 27,072 shares of the stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $8.20, for a total value of $221,990.40. Following the completion of the sale, the vice president now owns 240,100 shares in the company, valued at approximately $1,968,820. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Chiyue Cheung sold 12,667 shares of the stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $9.41, for a total value of $119,196.47. Following the completion of the sale, the chief operating officer now owns 2,667 shares of the company’s stock, valued at approximately $25,096.47. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NPTN. Victory Capital Management Inc. lifted its stake in shares of NeoPhotonics by 525.3% in the 1st quarter. Victory Capital Management Inc. now owns 906,792 shares of the semiconductor company’s stock valued at $10,836,000 after purchasing an additional 761,781 shares during the period. Wasatch Advisors Inc. lifted its stake in shares of NeoPhotonics by 35.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,614,885 shares of the semiconductor company’s stock valued at $26,698,000 after purchasing an additional 685,940 shares during the period. Friess Associates LLC purchased a new position in shares of NeoPhotonics in the 1st quarter valued at approximately $6,592,000. Russell Investments Group Ltd. lifted its stake in shares of NeoPhotonics by 40.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,555,735 shares of the semiconductor company’s stock valued at $15,880,000 after purchasing an additional 448,599 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of NeoPhotonics in the 2nd quarter valued at approximately $3,663,000. Institutional investors own 84.23% of the company’s stock.

About NeoPhotonics

NeoPhotonics Corp. engages in the design, manufacture, and sale of hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive communications networks. Its product portfolio includes pluggable coherent modules, coherent-components, 100G/400G client transceivers, optical switching, high speed ICs, 100G / 400G laser devices and light engines, passive components, network monitoring and control, and 10G and low rate components.

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Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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