DA Davidson Reiterates “$7.00” Price Target for NeoPhotonics (NPTN)

NeoPhotonics (NYSE:NPTN) has been given a $7.00 price objective by analysts at DA Davidson in a research note issued on Thursday. The brokerage presently has a “hold” rating on the semiconductor company’s stock. DA Davidson’s price objective would suggest a potential upside of 9.37% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. B. Riley reaffirmed a “hold” rating and set a $5.25 target price on shares of NeoPhotonics in a research note on Friday, October 6th. Zacks Investment Research raised NeoPhotonics from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised NeoPhotonics from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 10th. Raymond James Financial lowered their price target on NeoPhotonics from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, August 24th. Finally, BidaskClub raised NeoPhotonics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.67.

NeoPhotonics (NYSE:NPTN) opened at $6.40 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.20. NeoPhotonics has a 12 month low of $4.56 and a 12 month high of $14.00.

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

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in NeoPhotonics by 26.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,590,387 shares of the semiconductor company’s stock worth $27,719,000 after purchasing an additional 760,110 shares during the period. Quentec Asset Management LLC boosted its position in NeoPhotonics by 24.3% during the third quarter. Quentec Asset Management LLC now owns 2,403,104 shares of the semiconductor company’s stock worth $13,361,000 after purchasing an additional 469,087 shares during the period. AWM Investment Company Inc. boosted its position in NeoPhotonics by 15.7% during the second quarter. AWM Investment Company Inc. now owns 2,265,838 shares of the semiconductor company’s stock worth $17,492,000 after purchasing an additional 307,900 shares during the period. Royce & Associates LP boosted its position in NeoPhotonics by 2.8% during the third quarter. Royce & Associates LP now owns 1,816,728 shares of the semiconductor company’s stock worth $10,101,000 after purchasing an additional 49,200 shares during the period. Finally, Northpointe Capital LLC boosted its position in NeoPhotonics by 13.5% during the second quarter. Northpointe Capital LLC now owns 1,789,195 shares of the semiconductor company’s stock worth $13,813,000 after purchasing an additional 212,767 shares during the period. 81.06% of the stock is owned by hedge funds and other institutional investors.

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NeoPhotonics Company Profile

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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