NeoPhotonics (NPTN) Given “Buy” Rating at Rosenblatt Securities

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NeoPhotonics (NYSE:NPTN)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Friday, TipRanks reports.

A number of other equities analysts also recently issued reports on NPTN. Zacks Investment Research upgraded shares of NeoPhotonics from a “hold” rating to a “buy” rating and set a $7.75 price objective on the stock in a research note on Saturday, January 19th. ValuEngine upgraded shares of NeoPhotonics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 2nd. Finally, TheStreet upgraded shares of NeoPhotonics from a “d+” rating to a “c” rating in a research note on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. NeoPhotonics presently has a consensus rating of “Hold” and an average price target of $8.75.

Shares of NYSE:NPTN traded down $0.70 during trading on Friday, reaching $3.84. 5,308,451 shares of the company were exchanged, compared to its average volume of 794,181. The firm has a market cap of $265.83 million, a PE ratio of -5.19 and a beta of 1.26. NeoPhotonics has a 12-month low of $3.26 and a 12-month high of $9.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.98.

NeoPhotonics (NYSE:NPTN) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.08). NeoPhotonics had a negative return on equity of 17.55% and a negative net margin of 11.85%. The company had revenue of $79.40 million for the quarter, compared to analysts’ expectations of $79.99 million. During the same period last year, the business posted ($0.33) earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. Equities research analysts predict that NeoPhotonics will post -0.43 EPS for the current fiscal year.

In related news, COO Chiyue Cheung sold 12,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $5.79, for a total transaction of $69,480.00. Following the completion of the transaction, the chief operating officer now owns 12,000 shares of the company’s stock, valued at $69,480. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy Storrs Jenks sold 16,999 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $6.62, for a total transaction of $112,533.38. The disclosure for this sale can be found here. Insiders own 16.70% of the company’s stock.

Several institutional investors have recently modified their holdings of NPTN. Boston Partners raised its holdings in shares of NeoPhotonics by 103.5% during the fourth quarter. Boston Partners now owns 2,742,980 shares of the semiconductor company’s stock worth $17,775,000 after purchasing an additional 1,395,000 shares during the last quarter. Paradigm Capital Management Inc. NY purchased a new position in shares of NeoPhotonics during the first quarter worth $8,262,000. JPMorgan Chase & Co. raised its holdings in shares of NeoPhotonics by 136.0% during the first quarter. JPMorgan Chase & Co. now owns 962,190 shares of the semiconductor company’s stock worth $6,053,000 after purchasing an additional 554,494 shares during the last quarter. Cavalry Management Group LLC purchased a new position in shares of NeoPhotonics during the fourth quarter worth $2,959,000. Finally, Morgan Stanley raised its holdings in shares of NeoPhotonics by 447.5% during the third 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 last quarter. 82.03% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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