NeoPhotonics Corp (NPTN) Reaches New 12-Month Low at $4.59

Shares of NeoPhotonics Corp (NYSE:NPTN) hit a new 52-week low during trading on Friday . The company traded as low as $4.59 and last traded at $4.80, with a volume of 454109 shares traded. The stock had previously closed at $5.22.

A number of brokerages have commented on NPTN. Zacks Investment Research cut NeoPhotonics Corp from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 27th. Raymond James Financial, Inc. restated an “outperform” rating and issued a $9.00 price target on shares of NeoPhotonics Corp in a research report on Monday, July 24th. ValuEngine cut NeoPhotonics Corp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. B. Riley restated a “neutral” rating and issued a $6.25 price target on shares of NeoPhotonics Corp in a research report on Friday, August 4th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $8.50 price target on shares of NeoPhotonics Corp in a research report on Friday, August 4th. Three analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $8.92.

The company has a current ratio of 1.68, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05.

NeoPhotonics Corp (NYSE:NPTN) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.10. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $71.11 million. NeoPhotonics Corp had a negative net margin of 12.76% and a negative return on equity of 17.23%. The business’s quarterly revenue was down 26.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. analysts forecast that NeoPhotonics Corp will post -1 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of NPTN. Bank of New York Mellon Corp lifted its holdings in NeoPhotonics Corp by 5.4% in the 1st quarter. Bank of New York Mellon Corp now owns 127,838 shares of the semiconductor company’s stock worth $1,151,000 after buying an additional 6,581 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new position in NeoPhotonics Corp in the 1st quarter worth $131,000. American International Group Inc. lifted its holdings in NeoPhotonics Corp by 7.1% in the 1st quarter. American International Group Inc. now owns 18,979 shares of the semiconductor company’s stock worth $171,000 after buying an additional 1,252 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in NeoPhotonics Corp by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,830,277 shares of the semiconductor company’s stock worth $25,501,000 after buying an additional 218,449 shares in the last quarter. Finally, KCG Holdings Inc. acquired a new position in NeoPhotonics Corp in the 1st quarter worth $216,000. Hedge funds and other institutional investors own 82.96% of the company’s stock.

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About NeoPhotonics Corp

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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