NeoPhotonics (NPTN) PT Raised to $6.50 at DA Davidson

NeoPhotonics (NYSE:NPTN) had its target price increased by DA Davidson to $6.50 in a research report issued to clients and investors on Wednesday. The firm currently has a “neutral” rating on the semiconductor company’s stock. DA Davidson’s price target would indicate a potential upside of 1.25% from the company’s current price.

A number of other brokerages have also weighed in on NPTN. Craig Hallum reiterated a “buy” rating and issued a $8.50 price target on shares of NeoPhotonics in a report on Friday, October 6th. B. Riley reiterated a “hold” rating and issued a $5.25 price target on shares of NeoPhotonics in a report on Friday, October 6th. Zacks Investment Research lowered shares of NeoPhotonics from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Needham & Company LLC lifted their price target on shares of NeoPhotonics from $8.00 to $11.00 and gave the company a “strong-buy” rating in a report on Monday, October 9th. Finally, BidaskClub lowered shares of NeoPhotonics from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.61.

Shares of NeoPhotonics (NPTN) traded up $0.20 on Wednesday, hitting $6.42. 883,600 shares of the company’s stock were exchanged, compared to its average volume of 1,308,497. NeoPhotonics has a 52 week low of $4.56 and a 52 week high of $14.00. The company has a current ratio of 1.85, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20.

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

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of NeoPhotonics by 26.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock valued at $27,719,000 after acquiring an additional 760,110 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of NeoPhotonics by 37.2% during the 2nd quarter. Victory Capital Management Inc. now owns 165,367 shares of the semiconductor company’s stock valued at $1,277,000 after acquiring an additional 44,803 shares in the last quarter. Granite Point Capital Management L.P. lifted its holdings in shares of NeoPhotonics by 307.1% during the 2nd quarter. Granite Point Capital Management L.P. now owns 421,304 shares of the semiconductor company’s stock valued at $3,252,000 after acquiring an additional 317,804 shares in the last quarter. Royce & Associates LP increased its stake in NeoPhotonics by 12.8% during the 2nd quarter. Royce & Associates LP now owns 1,767,528 shares of the semiconductor company’s stock worth $13,645,000 after buying an additional 200,900 shares during the period. Finally, Vanguard Group Inc. increased its stake in NeoPhotonics by 7.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,629,639 shares of the semiconductor company’s stock worth $12,580,000 after buying an additional 114,518 shares during the period. Institutional investors and hedge funds 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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