NeoPhotonics (NYSE:NPTN) Price Target Raised to $12.50 at Needham & Company LLC


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NeoPhotonics (NYSE:NPTN) had its target price increased by Needham & Company LLC from $9.00 to $12.50 in a research note issued to investors on Wednesday morning, Analyst Ratings Network reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on NPTN. B. Riley upped their target price on shares of NeoPhotonics from $10.00 to $12.00 and gave the stock a buy rating in a report on Monday. Rosenblatt Securities reissued a hold rating and issued a $7.00 price target (up previously from $6.50) on shares of NeoPhotonics in a report on Tuesday, October 6th. JPMorgan Chase & Co. lowered shares of NeoPhotonics from an overweight rating to a neutral rating and set a $7.00 price target on the stock. in a report on Thursday, October 8th. DA Davidson cut their price objective on shares of NeoPhotonics from $11.00 to $7.00 and set a neutral rating for the company in a research note on Friday, September 18th. Finally, Zacks Investment Research raised shares of NeoPhotonics from a sell rating to a hold rating in a research note on Wednesday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $9.93.

NYSE NPTN traded up $0.77 during trading on Wednesday, hitting $10.75. 17,644 shares of the company’s stock were exchanged, compared to its average volume of 675,295. The company has a current ratio of 2.36, a quick ratio of 1.93 and a debt-to-equity ratio of 0.18. The company has a market cap of $539.07 million, a PE ratio of 63.94 and a beta of 1.21. NeoPhotonics has a fifty-two week low of $4.65 and a fifty-two week high of $10.34. The stock’s 50 day moving average price is $8.82 and its two-hundred day moving average price is $7.80.

NeoPhotonics (NYSE:NPTN) last issued its earnings results on Monday, November 2nd. The semiconductor company reported $0.11 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. The firm had revenue of $102.40 million during the quarter, compared to the consensus estimate of $101.92 million. NeoPhotonics had a return on equity of 10.55% and a net margin of 2.26%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. Analysts forecast that NeoPhotonics will post 0.04 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP grew its holdings in shares of NeoPhotonics by 4,963.0% in the 1st quarter. Marshall Wace LLP now owns 15,037 shares of the semiconductor company’s stock worth $95,000 after acquiring an additional 14,740 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in NeoPhotonics in the 2nd quarter valued at approximately $68,000. California Public Employees Retirement System increased its position in NeoPhotonics by 28.8% in the 2nd quarter. California Public Employees Retirement System now owns 112,667 shares of the semiconductor company’s stock valued at $1,000,000 after acquiring an additional 25,176 shares during the period. Bank of New York Mellon Corp increased its position in NeoPhotonics by 21.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 180,941 shares of the semiconductor company’s stock valued at $1,606,000 after acquiring an additional 32,195 shares during the period. Finally, American International Group Inc. increased its position in NeoPhotonics by 26.6% in the 2nd quarter. American International Group Inc. now owns 29,517 shares of the semiconductor company’s stock valued at $262,000 after acquiring an additional 6,211 shares during the period. 78.54% of the stock is currently owned by 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 worldwide. It offers high speed products, including transmitter, receiver, and switching products for 100G and optical transmission applications over distances of 2 to 2,000 kilometers; ultra-narrow linewidth tunable lasers that generate ultra-pure wavelength or color for coherent transmission; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent optical signals.

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Analyst Recommendations for NeoPhotonics (NYSE:NPTN)

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