Zacks Investment Research upgraded shares of NeoPhotonics (NYSE:NPTN) from a sell rating to a hold rating in a research note published on Wednesday.
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 equities analysts have also commented on the stock. ValuEngine raised shares of NeoPhotonics from a sell rating to a hold rating in a research report on Friday, December 1st. B. Riley reaffirmed a hold rating and set a $5.00 target price (down from $5.25) on shares of NeoPhotonics in a research report on Tuesday, November 7th. Needham & Company LLC reduced their target price on shares of NeoPhotonics from $11.00 to $8.00 and set a strong-buy rating on the stock in a research report on Monday, October 9th. Craig Hallum reaffirmed a buy rating and set a $8.50 target price on shares of NeoPhotonics in a research report on Friday, October 6th. Finally, Raymond James Financial lowered shares of NeoPhotonics from an outperform rating to a market perform rating in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $8.67.
Shares of NeoPhotonics (NYSE NPTN) traded down $0.02 during midday trading on Wednesday, reaching $6.40. 1,223,800 shares of the company’s stock traded hands, compared to its average volume of 1,308,136. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. NeoPhotonics has a twelve month low of $4.56 and a twelve month high of $14.00.
NeoPhotonics (NYSE:NPTN) last issued its earnings results on Monday, November 6th. The semiconductor company reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.09. The business had revenue of $71.12 million for the quarter, compared to analyst estimates of $69.94 million. NeoPhotonics had a negative net margin of 11.37% and a negative return on equity of 13.61%. The company’s quarterly revenue was down 31.2% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. sell-side analysts predict that NeoPhotonics will post -0.99 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC grew its holdings in NeoPhotonics 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 purchasing an additional 2,749 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new position in NeoPhotonics in the first quarter worth $131,000. Citigroup Inc. grew its holdings in NeoPhotonics by 35.7% in the second quarter. Citigroup Inc. now owns 17,314 shares of the semiconductor company’s stock worth $134,000 after purchasing an additional 4,556 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in NeoPhotonics in the second quarter worth $159,000. Finally, The Manufacturers Life Insurance Company grew its holdings in NeoPhotonics by 13.6% in the second quarter. The Manufacturers Life Insurance Company now owns 27,099 shares of the semiconductor company’s stock worth $210,000 after purchasing an additional 3,245 shares during the last quarter. 81.06% of the stock is currently owned by institutional investors.
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NeoPhotonics Company Profile
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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