NeoPhotonics Corporation (NYSE:NPTN) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, August 5th.
A number of other equities research analysts have also recently weighed in on NPTN. B. Riley reaffirmed a “neutral” rating and set a $6.25 price target on shares of NeoPhotonics Corporation in a report on Monday, May 15th. Zacks Investment Research cut NeoPhotonics Corporation from a “hold” rating to a “strong sell” rating in a report on Thursday, July 27th. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $9.00 target price on shares of NeoPhotonics Corporation in a research note on Monday, July 24th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $13.00 price objective on shares of NeoPhotonics Corporation in a research note on Monday, June 12th. Finally, ValuEngine raised NeoPhotonics Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $10.22.
NeoPhotonics Corporation (NYSE:NPTN) traded down 1.76% on Friday, hitting $5.58. The stock had a trading volume of 1,272,397 shares. The firm’s market cap is $243.50 million. The firm’s 50-day moving average price is $7.46 and its 200-day moving average price is $8.75. NeoPhotonics Corporation has a 1-year low of $5.53 and a 1-year high of $18.51.
NeoPhotonics Corporation (NYSE:NPTN) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.10. NeoPhotonics Corporation had a negative return on equity of 9.43% and a negative net margin of 7.28%. The firm had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $71.11 million. During the same period last year, the firm posted $0.15 EPS. The business’s revenue was down 26.1% on a year-over-year basis. On average, equities research analysts predict that NeoPhotonics Corporation will post ($0.59) earnings per share for the current year.
In related news, major shareholder Rusnano sold 180,000 shares of NeoPhotonics Corporation stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $9.18, for a total value of $1,652,400.00. Following the sale, the insider now owns 4,730,005 shares of the company’s stock, valued at $43,421,445.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Chiyue Cheung sold 10,000 shares of NeoPhotonics Corporation stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $7.66, for a total value of $76,600.00. Following the completion of the sale, the chief operating officer now directly owns 10,000 shares in the company, valued at approximately $76,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 359,300 shares of company stock worth $3,243,816. Corporate insiders own 17.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co acquired a new position in shares of NeoPhotonics Corporation during the first quarter worth $103,000. TFS Capital LLC acquired a new position in shares of NeoPhotonics Corporation during the first quarter worth $110,000. Voya Investment Management LLC increased its position in shares of NeoPhotonics Corporation by 20.0% in the second quarter. Voya Investment Management LLC now owns 16,469 shares of the semiconductor company’s stock worth $127,000 after buying an additional 2,749 shares during the period. Parametric Portfolio Associates LLC purchased a new position in NeoPhotonics Corporation during the first quarter valued at approximately $131,000. Finally, Citigroup Inc. increased its position in NeoPhotonics Corporation by 35.7% in the second quarter. Citigroup Inc. now owns 17,314 shares of the semiconductor company’s stock valued at $134,000 after buying an additional 4,556 shares during the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.
About NeoPhotonics Corporation
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.
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