NeoPhotonics (NYSE:NPTN) Shares Up 5.2%

NeoPhotonics Corp (NYSE:NPTN)’s share price shot up 5.2% on Monday . The stock traded as high as $6.20 and last traded at $6.05, 785,544 shares traded hands during mid-day trading. A decline of 23% from the average session volume of 1,025,561 shares. The stock had previously closed at $5.75.

Several research firms have weighed in on NPTN. Needham & Company LLC cut shares of NeoPhotonics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price target on shares of NeoPhotonics in a report on Tuesday, July 16th. TheStreet cut shares of NeoPhotonics from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. Craig Hallum set a $6.00 price target on shares of NeoPhotonics and gave the company a “buy” rating in a report on Friday, May 24th. Finally, Northland Securities reissued a “buy” rating on shares of NeoPhotonics in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $7.82.

The company’s fifty day moving average price is $5.08 and its 200 day moving average price is $5.70. The company has a market capitalization of $291.10 million, a P/E ratio of -8.51 and a beta of 1.61. The company has a quick ratio of 1.61, a current ratio of 2.10 and a debt-to-equity ratio of 0.42.

NeoPhotonics (NYSE:NPTN) last announced its earnings results on Monday, August 5th. The semiconductor company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.12. NeoPhotonics had a negative net margin of 10.86% and a negative return on equity of 14.40%. The company had revenue of $81.69 million for the quarter, compared to analysts’ expectations of $76.91 million. During the same period last year, the firm earned ($0.19) earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts predict that NeoPhotonics Corp will post -0.43 earnings per share for the current fiscal year.

In other NeoPhotonics news, CFO Elizabeth Lynne Eby bought 50,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were bought at an average cost of $3.57 per share, with a total value of $178,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.00% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in shares of NeoPhotonics by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 146,472 shares of the semiconductor company’s stock valued at $949,000 after acquiring an additional 8,130 shares in the last quarter. Northern Trust Corp lifted its position in shares of NeoPhotonics by 1.3% in the fourth quarter. Northern Trust Corp now owns 377,453 shares of the semiconductor company’s stock valued at $2,445,000 after acquiring an additional 4,770 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NeoPhotonics by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 369,350 shares of the semiconductor company’s stock valued at $2,393,000 after acquiring an additional 20,906 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of NeoPhotonics in the fourth quarter valued at $73,000. Finally, Bank of America Corp DE lifted its position in shares of NeoPhotonics by 64.6% in the fourth quarter. Bank of America Corp DE now owns 28,324 shares of the semiconductor company’s stock valued at $183,000 after acquiring an additional 11,118 shares in the last quarter. 71.76% of the stock is currently owned by institutional investors and hedge funds.

NeoPhotonics Company Profile (NYSE:NPTN)

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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