Short Interest in NeoPhotonics Corp (NYSE:NPTN) Decreases By 10.6%

NeoPhotonics Corp (NYSE:NPTN) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,350,000 shares, a drop of 10.6% from the January 15th total of 1,510,000 shares. Based on an average daily volume of 857,100 shares, the days-to-cover ratio is currently 1.6 days. Approximately 3.0% of the shares of the company are short sold.

In other NeoPhotonics news, Director Michael J. Sophie sold 20,116 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $9.00, for a total transaction of $181,044.00. Following the completion of the transaction, the director now owns 37,035 shares in the company, valued at $333,315. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Chiyue Cheung sold 6,000 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $8.80, for a total transaction of $52,800.00. Following the transaction, the chief operating officer now owns 6,000 shares of the company’s stock, valued at approximately $52,800. The disclosure for this sale can be found here. 16.00% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in NeoPhotonics by 6.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,986,313 shares of the semiconductor company’s stock valued at $26,328,000 after purchasing an additional 169,885 shares in the last quarter. BlackRock Inc. raised its stake in shares of NeoPhotonics by 5.7% during the second quarter. BlackRock Inc. now owns 2,666,274 shares of the semiconductor company’s stock worth $11,146,000 after acquiring an additional 143,596 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of NeoPhotonics by 17.1% during the second quarter. Vanguard Group Inc. now owns 2,383,040 shares of the semiconductor company’s stock worth $9,961,000 after acquiring an additional 347,176 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of NeoPhotonics by 83.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,628,957 shares of the semiconductor company’s stock worth $14,367,000 after acquiring an additional 740,146 shares in the last quarter. Finally, Masters Capital Management LLC raised its stake in shares of NeoPhotonics by 50.1% during the third quarter. Masters Capital Management LLC now owns 1,500,537 shares of the semiconductor company’s stock worth $9,138,000 after acquiring an additional 500,537 shares in the last quarter. 74.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on NPTN. ValuEngine lowered shares of NeoPhotonics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Needham & Company LLC upgraded shares of NeoPhotonics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Wednesday, January 22nd. Zacks Investment Research upgraded shares of NeoPhotonics from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a research report on Saturday, November 2nd. TheStreet raised shares of NeoPhotonics from a “d+” rating to a “c-” rating in a report on Thursday, November 21st. Finally, DA Davidson set a $7.00 price target on shares of NeoPhotonics and gave the stock a “hold” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. NeoPhotonics currently has an average rating of “Buy” and a consensus target price of $8.66.

Shares of NeoPhotonics stock traded down $0.25 on Friday, reaching $7.59. The stock had a trading volume of 671,806 shares. NeoPhotonics has a 1 year low of $3.26 and a 1 year high of $9.46. The business’s 50 day moving average is $8.39 and its two-hundred day moving average is $7.22.

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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