NeoPhotonics (NYSE:NPTN) Lowered to Hold at ValuEngine

ValuEngine lowered shares of NeoPhotonics (NYSE:NPTN) from a buy rating to a hold rating in a research report report published on Tuesday morning, ValuEngine reports.

A number of other equities research analysts have also issued reports on NPTN. Zacks Investment Research raised NeoPhotonics from a hold rating to a buy rating and set a $7.25 target price on the stock in a research report on Saturday, November 2nd. Needham & Company LLC reiterated a hold rating on shares of NeoPhotonics in a research report on Monday, November 4th. TheStreet raised NeoPhotonics from a d+ rating to a c- rating in a research note on Thursday, November 21st. B. Riley downgraded NeoPhotonics from a buy rating to a neutral rating and set a $6.50 price objective on the stock. in a report on Wednesday, September 18th. Finally, MKM Partners raised shares of NeoPhotonics from a neutral rating to a buy rating and upped their price objective for the company from $5.00 to $7.00 in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $7.82.

NPTN stock opened at $7.71 on Tuesday. The firm has a market cap of $395.58 million, a PE ratio of -10.42 and a beta of 1.73. NeoPhotonics has a 12 month low of $3.26 and a 12 month high of $8.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.63. The firm has a 50 day simple moving average of $7.47 and a 200 day simple moving average of $5.74.

NeoPhotonics (NYSE:NPTN) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.16. NeoPhotonics had a negative return on equity of 9.10% and a negative net margin of 7.51%. The company had revenue of $92.39 million for the quarter, compared to analysts’ expectations of $89.77 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts expect that NeoPhotonics will post -0.28 earnings per share for the current year.

In other news, CEO Timothy Storrs Jenks sold 24,732 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $8.47, for a total value of $209,480.04. Following the completion of the sale, the chief executive officer now directly owns 429,175 shares of the company’s stock, valued at $3,635,112.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yuen Wupen sold 15,263 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $8.53, for a total transaction of $130,193.39. Following the sale, the vice president now owns 106,685 shares of the company’s stock, valued at $910,023.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,995 shares of company stock worth $386,473. Corporate insiders own 16.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in NPTN. Algert Global LLC purchased a new position in NeoPhotonics in the second quarter valued at about $47,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of NeoPhotonics during the 3rd quarter valued at about $80,000. Marshall Wace LLP grew its stake 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 valued at $95,000 after buying an additional 14,740 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of NeoPhotonics in the 2nd quarter valued at approximately $72,000. Finally, Bailard Inc. acquired a new position in NeoPhotonics in the third quarter worth approximately $106,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

About NeoPhotonics

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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