UBS AG cut shares of NeoPhotonics Corporation (NYSE:NPTN) from an outperform rating to a market perform rating in a research report released on Thursday, The Fly reports.
Other equities research analysts also recently issued reports about the company. B. Riley reiterated a neutral rating and issued a $6.25 target price on shares of NeoPhotonics Corporation in a report on Wednesday, August 9th. Piper Jaffray Companies reiterated a buy rating and issued a $8.50 target price on shares of NeoPhotonics Corporation in a report on Friday, August 4th. ValuEngine upgraded NeoPhotonics Corporation from a strong sell rating to a sell rating in a report on Thursday, August 10th. Raymond James Financial, Inc. lowered their target price on NeoPhotonics Corporation from $8.00 to $7.00 and set an outperform rating for the company in a report on Thursday, August 24th. Finally, BidaskClub upgraded NeoPhotonics Corporation from a strong sell rating to a sell rating in a report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. NeoPhotonics Corporation presently has a consensus rating of Hold and a consensus price target of $9.25.
Shares of NeoPhotonics Corporation (NYSE:NPTN) traded down 0.20% during trading on Thursday, hitting $4.96. The company had a trading volume of 2,536,500 shares. NeoPhotonics Corporation has a 12-month low of $4.72 and a 12-month high of $16.61. The stock’s market capitalization is $216.44 million. The stock has a 50-day moving average of $5.85 and a 200 day moving average of $7.62.
NeoPhotonics Corporation (NYSE:NPTN) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.10. The business had revenue of $73.20 million during the quarter, compared to the consensus estimate of $71.11 million. NeoPhotonics Corporation had a negative return on equity of 9.43% and a negative net margin of 7.28%. The firm’s revenue for the quarter was down 26.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. On average, analysts predict that NeoPhotonics Corporation will post ($0.64) EPS for the current fiscal year.
In other NeoPhotonics Corporation news, SVP Benjamin Lee Sitler sold 33,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $8.44, for a total value of $281,896.00. Following the completion of the sale, the senior vice president now owns 84,711 shares of the company’s stock, valued at $714,960.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Sophie sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $8.45, for a total value of $33,800.00. Following the completion of the sale, the director now directly owns 18,318 shares of the company’s stock, valued at approximately $154,787.10. The disclosure for this sale can be found here. Company insiders own 17.30% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. AWM Investment Company Inc. boosted its position in shares of NeoPhotonics Corporation by 15.7% during the second quarter. AWM Investment Company Inc. now owns 2,265,838 shares of the semiconductor company’s stock valued at $17,492,000 after buying an additional 307,900 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of NeoPhotonics Corporation by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 27,099 shares of the semiconductor company’s stock valued at $210,000 after buying an additional 3,245 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of NeoPhotonics Corporation during the second quarter valued at approximately $234,000. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of NeoPhotonics Corporation during the second quarter valued at approximately $330,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of NeoPhotonics Corporation by 0.4% during the second quarter. Goldman Sachs Group Inc. now owns 96,999 shares of the semiconductor company’s stock valued at $749,000 after buying an additional 433 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.
NeoPhotonics Corporation 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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