NeoPhotonics (NPTN) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of NeoPhotonics (NYSE:NPTN) from a sell rating to a hold rating in a report released on Friday morning.

A number of other analysts have also recently issued reports on the company. Raymond James Financial decreased their target price on NeoPhotonics from $8.00 to $7.00 and set an outperform rating for the company in a report on Thursday, August 24th. BidaskClub cut NeoPhotonics from a sell rating to a strong sell rating in a report on Friday, September 8th. Craig Hallum reiterated a buy rating and set a $8.50 target price on shares of NeoPhotonics in a report on Friday, October 6th. UBS cut NeoPhotonics from an outperform rating to a market perform rating in a report on Thursday, October 5th. Finally, Needham & Company LLC boosted their target price on NeoPhotonics from $8.00 to $11.00 and gave the stock a strong-buy rating in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NeoPhotonics has a consensus rating of Hold and an average price target of $8.89.

NeoPhotonics (NYSE NPTN) traded down $0.34 during midday trading on Friday, hitting $6.22. 1,131,500 shares of the stock were exchanged, compared to its average volume of 1,310,313. NeoPhotonics has a one year low of $4.56 and a one year high of $14.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.85 and a quick ratio of 1.25.

NeoPhotonics (NYSE:NPTN) last posted its quarterly earnings data on Monday, November 6th. The semiconductor company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.09. NeoPhotonics had a negative net margin of 11.37% and a negative return on equity of 13.61%. The company had revenue of $71.12 million during the quarter, compared to the consensus estimate of $69.94 million. During the same quarter in the prior year, the company posted $0.06 EPS. The company’s quarterly revenue was down 31.2% compared to the same quarter last year. analysts expect that NeoPhotonics will post -0.99 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NPTN. Cubist Systematic Strategies LLC acquired a new position in shares of NeoPhotonics in the 3rd quarter valued at approximately $277,000. Quentec Asset Management LLC raised its position in shares of NeoPhotonics by 24.3% in the 3rd quarter. Quentec Asset Management LLC now owns 2,403,104 shares of the semiconductor company’s stock valued at $13,361,000 after purchasing an additional 469,087 shares in the last quarter. Granite Point Capital Management L.P. raised its position in shares of NeoPhotonics by 8.8% in the 3rd quarter. Granite Point Capital Management L.P. now owns 458,302 shares of the semiconductor company’s stock valued at $2,548,000 after purchasing an additional 36,998 shares in the last quarter. Royce & Associates LP raised its position in shares of NeoPhotonics by 2.8% in the 3rd quarter. Royce & Associates LP now owns 1,816,728 shares of the semiconductor company’s stock valued at $10,101,000 after purchasing an additional 49,200 shares in the last quarter. Finally, Senvest Management LLC acquired a new position in shares of NeoPhotonics in the 3rd quarter valued at approximately $634,000. Hedge funds and other institutional investors own 81.06% of the company’s stock.

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About NeoPhotonics

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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